As of July 1, 2016, the Town of Selinsgrove decided to purchase a privately operated parking garage and to create a Parking Garage (Enterprise) Fund. During the year, the following transactions occurred: (i) A permanent contribution of $550,000 was received from the General Fund. (j) Revenue Bonds were sold at par in the amount of $1,000,000. (k) Purchased for cash several items, the cost breakdown was: land, $250,000; building, $600,000, land improvement, $200,000; equipment, $100,000; supplies, $15,000. (l) Charges for services amounted to $850,000, all received in cash. (m) Cash expenses included: salaries, $370,000; utilities, $75,000; interest, $72,000. (n) Supplies were consumed in the amount of $12,000. (o) Depreciation was recorded for: building, $15,000, land improvement, $20,000; equipment, $12,500. (p) The books were closed to Net Position.

REQUIRED: a Statement of Revenues, Expenses, and Changes in Fund Net Position for the Town of Selinsgrove Parking Garage Fund for the Year Ended June 30, 2017