Baird County maintains an investment trust fund for the School District and the Town of Bairdville (separate governments). Presented below is the preclosing trial balance for the investment trust fund, a private-purpose trust fund.

Trial Balance-December 31, 2017	Debits	Credits
Accrued Interest Receivable	$20,000
Cash	33,300
Deposits-School District	$399,600
Deposits-Town of Bairdville	$292,200
Decrease in Fair Value of Investments (bonds)	13,300
Interest Income	79,800
Investments-Corporate Bonds	1,370,000
Investments-U.S. Treasury Securities	1,330,000
Net position held in trust-School District (Jan. 1)	1,330,000
Net Position held in trust-Town of Bairdville (Jan. 1)	665,000
$2,766,600	$2,766,600

Investment earnings are distributed among the School District and Town in proportion to the amounts contributed (two-thirds to the School District and one-third to the Town).

Required:

Prepare the year-end closing entries and a Statement of Changes in Fiduciary Net Position for the year ended December 31, 2017.