A citizen group raised funds to establish an endowment for the Eastville City Library. Under the terms of the trust agreement, the principal must be maintained, but the earnings of the fund are to be used to purchase database and periodical subscriptions for the library. A preclosing trial balance of the library permanent fund follows:

Trial BalanceDecember 31, 2020	Debits				Credits
Cash	$	12,000
Investments		532,000
Additions to permanent endowments					$	520,500
Investment income						58,500
Expendituressubscriptions		46,500
Net increase in fair value of investments						11,500
Accrued interest receivable		3,750
Accounts payable						3,750
	$	594,250			$	594,250

Required: a. Prepare any closing entries necessary at year-end. b. Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the library permanent fund. c. Prepare a balance sheet for the Library Permanent Fund (Use Restricted to Subscriptions for any spendable fund balance).

My Answer so far:

No	Event	General Journal	Debit	Credit
1	a.	RevenuesAdditions to Permanent Endowments
		RevenuesInvestment IncomeInterest
		RevenuesNet Increase in Fair Value of Investments
		ExpendituresSubscriptions
		Fund Balance

EASTVILLE CITY LIBRARY
Library Permanent Fund
Statement of Revenues, Expenditures, and
Changes in Fund Balance
For the Year Ended December 31, 2020
Revenues
Additions to Permanent Endowments
Investment Income:
Net Increase in Fair Value of Investments
Total Revenues	0
Expenditures
Current:
Subscriptions
Total Expenditures	0
Net Change in Fund Balance
Fund Balance, January 1
Fund Balance, December 31	$0

Prepare a balance sheet for the Library Permanent Fund (Use Restricted to Subscriptions for any spendable fund balance).

EASTVILLE CITY LIBRARY
Library Permanent Fund
Balance Sheet
As of December 31, 2020
Assets
Cash
Investments
Accrued Interest Receivable
Total Assets	$0
Liabilities, Deferred Inflows, and Fund Balances
Liabilities
Accounts Payable
Total Liabilities	0
Fund Balances
NonspendablePermanent Fund Principal
Total Fund Balances	0
Total Liabilities and Fund Balances	$0

Please provide the numbers and fix my mistakes. ty