As of January 1, 2020, the City of Summerhaven began a municipal bus operation. The adjusted trial balance below was prepared as of December 31, 2020:

DebitsCredits

Cash$45,000$

Investments85,000

Supplies20,000

Restricted Assets30,000

Land100,000

Land Improvements200,000

Accumulated Depreciation-Land Improvements10,000

Building400,000

Accumulated Depreciation-Building20,000

Buses500,000

Accumulated Depreciation-Buses50,000

Accounts Payable45,000

Salaries Payable15,000

Interest Payable10,000

General Obligation Bonds Payable800,000

Other Financing Sources-transfer in400,000

Revenuescharges for services360,000

Dividend and interest income10,000

Fuel and Supplies Expense60,000

Salaries Expense120,000

Utilities Expense50,000

Depreciation Expense80,000

Interest Expense30,000_________

Totals$1,720,000$1,720,000

Additional information:

A transfer of $400,000 was received from the general fund in January, 2020, and was used to acquire capital assets.

General obligation bonds with a face value of $800,000 were sold for $800,000 on March 31, 2020. The bonds pay interest at 5% on March 31 and September 30. The bonds were used to acquire capital assets.

The bond indenture requires that Summerhaven set aside assets for the payment of bond principal. The general obligation bonds are serial bonds, and the first serial payment will not be paid until 2023. Restricted assets consist entirely of investments.

3Prepare the statement of net position at December 31, 2020.

4Prepare the capital and related financing activities section of the statement of cash flows for the year ended December 31, 2020.

Please help with problems 3 and 4