1.787,903 4.855,143 1,000 766,309 7.410,355 Proprietary Fund Financial Statement Quiz Shown below is the Statement of Revenues, Expenses, and Change in Net Position and the Statement of Net Position for the Sewer Fund, an enterprise fund, of a community. The dollar amounts in the Net Position portion of the Statement of Net Position have been left blank. Please enter the correct amounts for Net investment in capital assets, Restricted, and Unrestricted, given the following information: (1) all of the current portion of long term debt and $1,200,011 of the long term debt, net of current portion, is associated with the purchase of capital assets, (2) $4,500,000 of net assets is restricted by the State of Michigan for the purpose of hazardous waste expenditures, (3) $600,000 is restricted by the City's Council to be used for painting various structures. Very important, clearly show your computations. Michigan Municipality Michigan Municipality Sewer Fund Sewer Fund Statement of Revenues, Expenses, and Statement of Net Position Change in Net Position Operating revenue Assets Charges for services 1.756,031 Current assets Fines & forfeitures 62,707 Cash and cash equivalents Total operating revenue 1,818,738 Accounts receivable Operating expenses Due from other funds Salaries & wages 49,680 Due from other governments Fringe benefits 15,683 Total current assets Supplies 8.957 Noncurrent assets Contractual services 262,649 Capital assets not being depreciated Utilities 849,299 Capital assets, net of accumulated depreciation Insurance 22,404 Total noncurrent assets Communications 5,756 Total assets Printing & publishing 180 Liabilities Repairs 92.168 Current liabilities Building & equipment rental 37.453 Accounts payable Other 6,418 Accrued wages Depreciation 72,686 Due to other funds Total operating expenses 1.423,333 Due to other governments Operating income (loss) 395,405 Compensated absences, current Nonoperating revenue (expenses) Current portion of long term debt Interest income 1,762 Total current liabilities Interest expense & fees -12,899 Noncurrent liabilities Change in equity interest in joint venture -81,125 Long term debt, net of current portion Net nonoperating revenues (expenses) -92,262 Total liabilities Income before transfers 303,143 Net position Transfers Net investment in capital assets Transfers in 10,000 Restricted Transfers out -89,200 Unrestricted Change in net position 223,943 Total net position Net position - beginning of year 17,415.992 Net position - end of year 17,639.935 4,019,075 9,091,782) 13,110,857 20,521,212 435,400 635 774,671 373.279 1.281 30,000 1,615,266 1.266,011 2.881,277 7.861,771 4.500.000 5,278,164 17,639,935
