Augusta has a municipal water and gas utility district (MUD). The trial balance on January 1, 20X1, follows: Cash $ 92,000 Accounts Receivable 25,000 Inventory of Supplies 8,000 Land 120,000 Plant and Equipment 480,000 Accumulated Depreciation $ 80,000 Vouchers Payable 15,000 Bonds Payable, 6% 500,000 Net Assets: Invested in Capital Assets, Net of Related Debt 20,000 Unrestricted 110,000 Total $ 725,000 $ 725,000 Additional Information for 20X1: 1. Charges to customers for water and gas were $420,000; collections were $432,000. 2. A loan of $30,000 for two years was received from the general fund. 3. The water and gas lines were extended to a new development at a cost of $75,000. The contractor was paid. 4. Supplies were acquired from central stores (internal service fund) for $12,400. Operating expenses were $328,000, and interest expense was $30,000. Payment was made for the interest and the payable to central stores, and $325,000 of the vouchers were paid. 5. Adjusting entries were as follows: estimated uncollectible accounts receivable, $6,300; depreciation expense, $32,000; and supplies expense, $15,200. Required: a. Prepare entries for the MUD enterprise fund for 20X1 and closing entries. b. Prepare a statement of net position for the fund for December 31, 20X1 c. Prepare a statement of revenues, expenses, and changes in fund net position for 20X1. Assume that the $500,000 of the 6 percent bonds is related to the net capital assets of land and of plant and equipment. d. Prepare a statement of cash flows for 20X1.