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1 5 - 1 0 . Using Exhibit 1 3 - 1 , prepare common size ratios for Smith City for its governmental activities. 1
Using Exhibit prepare common size ratios for Smith City for its governmental activities.
Using Exhibit calculate current ratios for Smith City for governmental activities, businesstype activities, total, and component units.
Using Exhibit calculate the solvency ratio of longterm debt to total net position for the governmental activities.
Using Exhibit for the governmental activities of the primary government, calculate the interest coverage ratio, that is the change in net position interest interest.
Smith City Statement of Net Position as of June
Assets
Current assets tableEquity interest in joint venture,Capital assetsLand and constructioninprogress,Buildings equipment, andinfrastructure net of depreciation,Total noncurrent assets,$$$$Total Assets A$$$$Deferred Outflows of Resources B$ $ $$ LiabilitiesCurrent liabilitiesAccounts payable,$$$$Current portion of Iongterm liabilities,Total current liabilities,$$$$
Noncurrent liabilities
tableNoncurrent portion of longterm liabilities,tableNoncurrent portion of longterm liabilities,Total Liabilities C$$$$Deferred Inflows of ResourcesPrepaid property taxes,$$$$Total Deferred Inflows of Resources D$$$$Net PositionNet investment in capital assets,$$$$Restricted for:Transportation and new city hall project,Debt service,Low income housing and industrial,,,,redevelopmentOther purposes,Unrestricted deficittableredevelopmentOther purposes,Unrestricted deficitTotal Net Position ABCD$$$$
Source: Based on Dean Michael Mead, "Figure : GovernmentWide Statement of Net Position," What You Should Know about Your Local Government's Finances: A Guide to Financis Note: Row and column totals may not equate due to rounding.
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