100 points 1 The following information is available for the preparation of the government-wide financial statements...

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100 points 1 The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020: Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities Capital assets, net, governmental activities Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities General obligation bonds, governmental activities Revenue bonds, business-type activities Long-term liability for compensated absences, governmental activities $ 570,000 1,199,000 678,000 1,998,000 786,000 20,400,000 10,729,000 976,000 844,000 11,774,000 4,844,000 546,000 From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $836,000 for governmental activities and $335,000 for business-type activities. (Negative amounts should be indicated by a minus sign) Assets: Cash and Cash Equivalents Receivables Inventories Capital Assets, Net Total Assets Liabilities: Accounts Payable Bonds Payable Capital Assets, Net Total Liabilities Net Position: CITY OF SOUTHERN SPRINGS Statement of Net Position As of April 30, 2020 Governmental Activities Business-Type Activities Total $ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Net Position $ 0 $ 0 $ 0 100 points 1 The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020: Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities Capital assets, net, governmental activities Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities General obligation bonds, governmental activities Revenue bonds, business-type activities Long-term liability for compensated absences, governmental activities $ 570,000 1,199,000 678,000 1,998,000 786,000 20,400,000 10,729,000 976,000 844,000 11,774,000 4,844,000 546,000 From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $836,000 for governmental activities and $335,000 for business-type activities. (Negative amounts should be indicated by a minus sign) Assets: Cash and Cash Equivalents Receivables Inventories Capital Assets, Net Total Assets Liabilities: Accounts Payable Bonds Payable Capital Assets, Net Total Liabilities Net Position: CITY OF SOUTHERN SPRINGS Statement of Net Position As of April 30, 2020 Governmental Activities Business-Type Activities Total $ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Net Position $ 0 $ 0 $ 0