EXERCISES 75. Preparation of financial statements for a not-for-profit organization Following is financial data for the Center for Music and Health Studies, a not-for profit organization investigating the benefits of music in the treatment of illness. Given this information, prepare the state ment of activities and the statement of financial position. LO1, 2 Without Donor Restrictions With Donor Restrictions Support-contributions.... Revenues-investment Net assets, beginning of year.. $4,108,993 183,224 3,372,358 $1,507.885 187 530 3.634,895 Long-term liabilities. Contributions receivable.... Expenses-support Net assets released from restriction. Cash.. Payables........ Expenses program...... Investments ......... Depreciation expense (of which 80% relates to program expenses and 20% relates to support expenses) ........ Property, plant and equipment, net........ $1,383.859 1.238.657 882.937 337.833 948,159 827,938 3,658,933 984.688 169.582 7.323.726