Exercise 6-8 (Algo) The Village of Parry reported the following for its Print Shop Fund for the year ended April 30, 2020. VILLAGE OF PARRY-PRINT SHOP FUND Statement of Revenues, Expenses, and Changes in Net Position For the Year Ended April 30, 2020 Operating revenues: Operating expenses: Charges for services Salaries and benefits Depreciation Supplies used Utilities Total operating expenses Income from operations $1,162,000 $524,000 317,400 215,600 76,300 1,133,300 28,700 Nonoperating income (expenses): Interest revenue 5,100 Interest expense (6,800) Total nonoperating expenses (1,700) Income before transfers 27,000 Transfers in 242,000 Changes in net position 269,000 Net position-beginning Net position-ending 1,136,000 $1,405,000 The Print Shop Fund records also revealed the following: 1. Contribution from General Fund for working capital needs 2. Contribution from General Fund for purchase of equipment 3. Loan (interest-free) from Water Utility Fund for purchase of equipment 4. Purchase of equipment 5. Purchase of one-year investments 6. Paid off a bank loan outstanding at May 1, 2019 The loan was for short-term operating purposes and was the only interest-bearing debt outstanding 7. Signed a capital lease on April 30, 2020 $ 114,000 128,000 317,000 (516,000) (66,000) (78,100) $ 62,300