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 Accrued Interest Receivable Cash Deposits-School District Deposits-Town of Bairdville Decrease in Fair Value of Investments (bonds) Interest Income Investments-Corporate Bonds Investments-US Treasury Securities Net Position held in trust-School District (Jan. 1) Net Position held in trust-Town of Bairdville (Jan. 1) Debits $ 15,000 Credits 25,000 $ 300,000 220,000 10,000 60,000 1,030,000 1,000,000 1,000,000 500,000 $2,080,000 $2,080,000 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