1. Statement of Net Position

2. Statement of Revenue, Expenses and Changes in Net Position

3. Cash Flow Statement - Create the statement of Cash flows using the direct method, in good form.

Try to do the reconciliation, which starts with operating income and gets to cash generated by operations.

Note: This work is to be done independently. The blanks in the templates may not exactly match with the number of necessary accounts. Please feel free to add or delete extra rows in the spreadsheets.

Hint: In Financial Accounting, we learned the "indirect method" of cash flow statement and used the following equation to adjust net income and get "net cash from operating activities."

Net cash from operating activities

= Net income

noncash revenue (e.g., +/- change in Accounts Receivable)

+ noncash expenses (e.g., depreciation expenses, patent amortization expense, depletion expenses, +/- change of Accounts Payable)

+ change in cash proceeds in advance of revenue (e.g., +/- change of unearned revenue)

change in cash payments in advance of expenses (e.g., +/- change of prepaid expenses, +/- change of inventory)

gain on disposal of plant assets from investing activities

+ loss on disposal of plant assets from investing activities

The reconciliation in Enterprise Fund's cash flow statement could follow a similar method. Instead of using "net income" in the above equation, we start with NET OPERATING INCOME here for Enterprise Fund, so that you may not need to adjust for "gain/loss on disposal of plant assets from investing activities" (if any) because these non-operating revenues/expenses are NOT included in OPERATING INCOME anyway.

City of Clifton Electrie Department Additional information (for the year ended June 30, 20X7) for preparing the Statement of Cash Flows of CITY OF CLIFTON's Flectric Department (Enterprise) Fund: Adjusted Trial Halance dr and investments with City Treasurgr 4,926,000 2,320,000 Due From Customers Mateials and Supolies Other Current Assets Cash restnicted Corstruation in 1. Cash a cash equivalents at beginning ofyear. ..$2.250,000 2. Due From Customers at beginning ofyear 3. Materials and Supplies at beginning of year 4. Acvnls Payable and Accrued Liabilities al beginning of year $4,020,000 5. There is no change of Other Current Assets during the year. Depreciation expense is $2.120.000 0 10,000 250,000 Electric Plan Accumulated Depreciation Electric Plant Accounts payable d Accrued Liabilities Accrued interest 5% Eennc Revenue Bonds payable Net Poston $1,010,000. 6. Cash payments received from customers during the year.S10.500,000 7. Cash paid to cmployccs (wages and salarics) during the ycar $4.280,000 8. Cash paid to suppliers of goods and scrvices during the ycar (inchuding thosc in scttlement 58,000.000 11,010,000 3,925,000 625,000 5,000,00 28,730,000 of Accounts Payable) 9. Sale at par ($5.000.000) in the year of 20X7. of 20-year, 5% Electric Revenue Bonds. 10. Intcrest on bonds paid during the ycar, $500,000. 11. Total cash paid during the year for acquiring property, plant, and equipment, $5,000,000 $3,045,000 Operaing Rerenue Fuel Expense Weges and salaries Expense Operetng Suplies Expense Interesi expense 10,700,000 90,000 4,280,000 150,000 1,125,000 010,000 eciation Expense ctals