Enterprise Fund Statement of Cash Flows. Ruby City had the following cash transactions in 2018 for the Enterprise Fund:

1. Interest received on investments totaled $40,000.

2. The city acquired additional equity investments totaling $75,000.

3. A grant was received from the state in the amount of $50,000 for land acquisition.

4. Receipts from sales of goods or services totaled $3,000,000.

5. Payments for supplies were made in the amount of $1,500,000.

6. Payments to employees for salaries amounted to $475,000.

7. Equipment was sold for $60,000. It had a book value of $56,625.

8. $30,000 was transferred in from the General Fund.

9. Other cash expenses for operations were $25,000.

10. A building was purchased with $100,000 cash and an $80,000 note payable. No payments were made on the note in 2018.

11. Long-term debt service (originally issued for a construction project) payments totaled $525,000. $25,000 of the debt service was interest paid on the debt.

The 2017 post-closing and 2018 pre-closing balances were as follows:

	2017	2018
Cash	900,000	1,380,000
Accounts Receivable	250,000	700,000
Supplies Inventory	30,000	36,300
Investments	320,000	395,000
Building, net	3,000,000	2,980,000
Equipment, net	1,000,000	858,375
Accounts Payable & Accrued Salaries	(100,000)	(91,300)
Note Payable		(80,000)
Debt	(1,000,000)	(500,000)
Net Position	(4,400,000)	(4,400,000)
Charges for services		(3,450,000)
Interest and Dividend income		(40,000)
Grant income		(50,000)
Salary expenses		466,300
Other expenses		25,000
Supplies expense		1,493,700
Depreciation Expense		285,000
Interest Expense		25,000
Gain on sale of PPE		(3,375)
Transfers In		(30,000)

Required

Prepare a statement of cash flows, in good form and with required supplemental information, for the Ruby City enterprise fund. Refer to GASB Codification 2450 for guidance.