3. A City Administration has provided the following information of their activity related to government funds. You are required to: Statement of Revenues, Expenditure and Changes in Fund Balance Statement of Net Assets/Balance Sheet Transaction Issued OMR 100,000 long term development bond, the fund to be utilized for construction of an Multi- Purpose Hall buildingand must be used for this specific purpose. Received State Grant for the improvement of the sewage system of the city OMR150,000 The City also issued operational bonds to the value of OMR 50,000 to finance its general operating expenditure Purchased office supplies OMR 25,000 for which payment is made immediately against the vouchers produced. Transferred OMR50,000 to establish a service center to provide support to other departments. General operating expenditure incurred and paid OMR 15,000. The City levied OMR 200,000 of general property taxes of which it actually collected OMR 160,000. Using the Developmental Bond issue proceeds, the City constructed the Multi-Purpose Hall by spending OMR 96,000 Using the State Grant, the City renovated the sewage system OMR 100,000 The service department billed the General Fund for providing services OMR15,000