A city has a Private Purpose Trust Fund that it is used to account for resources donated to provide the payment of tuition and fees necessary for the college education of the children of police or fire personnel who are disabled or killed. The fund is used to collect and invest deposits made by contributors for the purpose of financing tuition on behalf of particular children in the future. Record the following transactions in the College Education Private Purpose Trust Fund. Also, prepare (1) a statement of changes in fiduciary net position and (2) a statement of fiduciary net position for the Fund for the year ended December 31, 2020. This is the first year of operation for the College Education Private Purpose Trust Fund. a. Rachel Smith, noted philanthropist, donates marketable securities worth $600,000 to the city, stipulating that all earnings on the securities be used for awarding scholarships to the children of disabled or killed police or fire personnel. b. Corporate securities of $570,000 are purchased as an investment. C. The fund receives dividends on the securities in the amount of $15,000. d. A distribution in the amount of $20,000 is made for the college tuition of a child of a disabled police officer. e. When the District prepares financial statements at the end of the year, the corporate securities have a fair value of $590,000. Make journal entries to account for the transactions in the Private Purpose Trust Fund