1.NPO, Inc, a private not-for-profit organization, was established on January 2, 2020 to provide training programs for those teenagers about to enter the workforce.The following events occur in 2020:

a.$1,000,000 was received in government funding, in the form of grants.Of this total, $600,000 was designated by the government for constructing a building, $200,000 was designated to be used to set up computer training programs, and the rest was unrestricted.

b.NPO received $200,000 in cash contributions and $130,000 in documented pledges to be received in 2021.All contributions are undesignated, and 10% of pledges are estimated to be uncollectible.

c.Expenses for the year were as follows:

General Services Training Programs Fund-raising

Salaries $40,000 $ 50,000 $20,000

Supplies 30,000 75,000 10,000

Utilities 30,000 25,000 5,000

Travel -- -- 15,000

Total $100,000 $150,000 $50,000

All of the above expenses were paid in cash, except for $25,000 still owed to suppliers.

Of the $150,000 in expenses for training programs, $78,000 was financed by the government grant described in Item 1 above.

Expenses are displayed functionally in the statement of activities.

d.Services were donated as follows (fair values of services provided are shown in parenthesis):

Audit by local CPA ($5,000)

High school students distributed fliers to the public ($2,000)

Contractor drafted plans for the building ($15,000)

Create the 2020 statement of activities for NPO, Inc.