Assignment 2 A successful businessman in the community has contacted the Badr County Board of Commissioners about donating income-producing securities to the County to support a particular activity. Under the agreement, the County would be required to maintain the principal amount ot the gift but could use the resulting earnings. The following events occurred in 2017 1. Securities, which had an original cost of $4,250,000 were donated to the County on January 1 The fair value of the securities at that date was $5,832,000, including: Corporate equities of $2,820,000. Corporate bonds of $3,000,000. Accrued interest receivable on the bonds of $12,000. 2. During the year, the fund received dividends on the corporate equities of $98,000. 3. During the year, the fund received $180,000 in interest payments on the bonds. At the end of the year, accrued interest on the bonds totaled $15,000. 4. During the year, the fund paid $230,000 supporting activities identified in the trust agreement and had outstanding bills to be paid of $6,000. 5. The fair value of the securities at December 31 was: Corporate equities of $2,785,000. . Corporate bonds of $3,060,000. Required: You are to prepare financial statements for the fund. Assume it is appropriate to report the gift and related transactions in a Private-Purpose Trust Fund following the accrual basis. Prepare journal entries recording the events above. Prepare a Statement of Changes in Fiduciary Net Assets Prepare a Statement of Fiduciary Net Assets. a. b. c. CY 2 820)0oo