10. The Wilayat 'N' operates a Public Employees Retirement System (PERS) for all employees of the Wilayat. The pre- closing trial balance of the PERS as of June 30, 2019, follows: (in thousands of OMR) Ledger Balances Debits Credits Cash 8,000 Accrued Interest Receivable 16,600 Investments 971,600 Equipment and Fixtures 12,600 Accumulated Depreciation Equipment and Fixtures 1,550 Accounts Payable and Accruals 16,700 Net Assets Held in Trust for Pension Benefits, July 1, 2018 788,500 Member Contributions 56,050 Employer Contributions 98,900 Interest and Dividend Income 99,850 Annuity Benefits 26,950 Disability Benefits 7,000 Refunds to Terminated Employees 14,400 Administrative Expenses 4.400 Total 1,061,550 1,061,550 Required: a. The fair value of investments increased by OMR 29,400. Prepare a statement of changes in plan net assets for the Wilayat 'N' Public Employees Retirement System for the year ended June 30, 2019, in as much detail as possible. (4.5 marks) b. Prepare a statement of plan net assets as of June 30, 2019, for the Wilayat 'N' Public Employees Retirement System. (2.5 marks) c. Explain how the Wilayat 'N' (the employer) would report its participation in the state PERS at the fund level and at the government-wide level. (2 marks) 10. The Wilayat 'N' operates a Public Employees Retirement System (PERS) for all employees of the Wilayat. The pre- closing trial balance of the PERS as of June 30, 2019, follows: (in thousands of OMR) Ledger Balances Debits Credits Cash 8,000 Accrued Interest Receivable 16,600 Investments 971,600 Equipment and Fixtures 12,600 Accumulated Depreciation Equipment and Fixtures 1,550 Accounts Payable and Accruals 16,700 Net Assets Held in Trust for Pension Benefits, July 1, 2018 788,500 Member Contributions 56,050 Employer Contributions 98,900 Interest and Dividend Income 99,850 Annuity Benefits 26,950 Disability Benefits 7,000 Refunds to Terminated Employees 14,400 Administrative Expenses 4.400 Total 1,061,550 1,061,550 Required: a. The fair value of investments increased by OMR 29,400. Prepare a statement of changes in plan net assets for the Wilayat 'N' Public Employees Retirement System for the year ended June 30, 2019, in as much detail as possible. (4.5 marks) b. Prepare a statement of plan net assets as of June 30, 2019, for the Wilayat 'N' Public Employees Retirement System. (2.5 marks) c. Explain how the Wilayat 'N' (the employer) would report its participation in the state PERS at the fund level and at the government-wide level. (2 marks)