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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

15-10. Using Exhibit 13-1, prepare common size ratios for Smith City for its governmental activities.
15-11. Using Exhibit 13-1, calculate current ratios for Smith City for governmental activities, business-type activities, total, and component units.
15-12. Using Exhibit 13-1, calculate the solvency ratio of long-term debt to total net position for the governmental activities.
15-13. Using Exhibit 13-2 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 30,2024
Assets
Current assets \table[[Equity interest in joint venture,1,612,279,-,1,612,279,-],[Capital assets],[Land and construction-in-progress,19,904,518,4,485,705,24,390,223,525,867],[Buildings, equipment, and],[infrastructure, net of depreciation,99_,111,415,101_,486_,421,200_,597_,835_,25_,895_,483],[Total noncurrent assets,$129,514,976,$105,972,126,$235,487,102,$26,421,350],[Total Assets A,$158,730,729,$115,774,867,$274,505_,596,$34,722,562],[Deferred Outflows of Resources [B],$ -,$ -,$_,$ -],[Liabilities],[Current liabilities],[Accounts payable,$5,276,980,$550,789,$5,827,770,$1,262,332],[Current portion of Iong-term liabilities,6,465,200,3,098,400,9,563,600,998,647],[Total current liabilities,$11,742,180,$3,649,190,$15,391,370,$2,260,980]]
Noncurrent liabilities
\table[[Noncurrent portion of long-term liabilities,58,311,665,52,137,591,110,449,256,18,974,306]]\table[[Noncurrent portion of long-term liabilities,58,311,665,52,137,591,110,449,256,18,974,306],[Total Liabilities [C],$70,053_,845,$55,786,781,$125,840,625,$21,235,285],[Deferred Inflows of Resources],[Prepaid property taxes,$1,004,919,$-,$1,004,919,$27,238],[Total Deferred Inflows of Resources [D],$1,004,919_,$-,$1,004,919,$27,238_],[Net Position],[Net investment in capital assets,$72,597,970,$51,162,002,$123,759,972,$11,134,474],[Restricted for:],[Transportation and new city hall project,7,459,016,-,7,459,016,-],[Debt service,2,153,780,1,016,397,3,170,178,-],[Low income housing and industrial,,,,-],[redevelopment,4,791,940,-,4,791,940,],[Other purposes,1,038,371,-,1,038,371,344,712],[Unrestricted (deficit),(369,112),7,809,687,7,440,575,1,980,853]]\table[[redevelopment,4,191,940,,4,191,940,],[Other purposes,1,038,371,-,1,038,371,344,712],[Unrestricted (deficit),(369,112),7,809,687,7,440,575,1,980,853],[Total Net Position A+B-C-D,$87,671,966,$59,988_,086_,$147,660,052,$13,460,039]]
Source: Based on Dean Michael Mead, "Figure 1: Government-Wide 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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