As of December $31,2023$ the Vale Maritime Museum had unrestricted cash of $$52,000,$ building

and land with a net book value of $$145,000,$ and donor restricted permanent collections totaling

$$140,000.$ There were no liabilities. The Museum has two programs: Operation of a Maritime

Museum and Educational Programs. During the year ended December $31,2024$ the Museum

incurred the following transactions:

$(1)$ Cash contributions to the Museum included $($a$)$ unrestricted $$421,000,($b$)$ restricted for

educational programs $$45,000$ and $($c$)$ restricted by the donor for endowment purposes

$$105,000.$

$(2)$ Additional unrestricted cash receipts included $$61,000$ in fees from individuals and

organizations using the Museum building as a meeting facility. Included in this is $$9,000$ for a

meeting to be held in January $2023.$

$(3)$ Incurred cash expenses:

$(4)$ Purchased land for future expansion to the adjoining lot in the amount of $$35,000.$

$(5)$ Depreciation on the Museum building amounted to $$55,000$ and is allocated on the basis of

square feet: $$40,000$ to Museum operations, $$5,000$ to Education Programs, and $$10,000$ to

administration.

$(6)$ Outstanding purchase orders for administrative supplies at $12-31-2023$ totaled $$2,000.$

Required:

Prepare a Statement of Activities and Changes in Net Assets for the Museum for the year

ended $12-31-2023.$