Financial Statements - Public College. The following balances come from the trial balance of Wilson State College as of the end of the 2017 fiscal year. WILSON STATE COLLEGE Pre-closing Trial Balance June 30, 2017 (000s omitted) Debits Credits Cash and Cash Equivalents $3,278 Investments $29,387 Accounts Receivable $1,957 Allowance for Uncollectible Receivables $137 Due from State $79,626 Inventories $869 Cash and Cash Equivalents--Restricted $6,716 Investments--Restricted $71,883 Depreciable Capital Assets $184,620 Accumulated Depreciation $28,850 Nondepreciable Assets $89,481 Accounts Payable $2,306 Accrued Liabilities $2,039 Unearned Revenue $13,789 Compensated Absences -Current Portion $1,538 Bonds Payable $92,116 Compensated Absences $37,662 Net Position--Net Investment in Capital Assets $158,715 Net Position--Restricted for Debt Service--Expendable $1,157 Net Position--Restricted for Capital Projects--Expendable $49,272 Net Position Restricted for Endowment--Nonexpendable $39,959 Net Position--Unrestricted $36,559 Tuition and Fees $30,095 Tuition and Fees Discount and Allowances $7,565 Grants and Contracts Revenue $18,196 Auxiliary Enterprise Sales $14,595 Investment Income $1,745 State Appropriations $44,894 Capital Appropriations $12,785 Institutional Support Expenses $26,268 Academic Support Expenses $58,940 Scholarships and Fellowships Expense $7,664 Depreciation Expense $5,580 Interest Expense $378 Auxiliary Enterprise Expenses $12,197 Totals $586,409 $586,406 Information on Cash and Cash Equivalents Activity Beginning Cash Balance $8,067 Received Tuition and Fees (net) $23,609 Received Grants and Contracts $12,940 Received from Auxiliary Enterprises $13,765 Payments to Employees $58,220 Payments to Vendors $21,711 Payments to Students for Scholarships and Fellowships $7,664 Received State Appropriations 39,894 Received Capital Appropriations 20,540 Purchase of Capital Assets 20,634 Interest Paid on Debt 2,095 Interest Income 1,503 Using this information a. Prepare a statement of revenues, expenses, and changes in net position for the year ended June 30, 2017, in good form. See Illustrations 152 and 76; however, display expenses using functional classifications as shown in Illustration 156. b. Prepare a statement of net position as of June 30, 2017, in good form. For the period, net position restricted for capital projects increased by $3,000, and net position restricted for debt service increased by $150; all bonded debt relates to capital assets. See Illustration 151. c. Prepare a statement of cash flows for the year ended June 30, 2017. Information on changes in assets and liabilities is as follows: Accounts Receivable (net) increased by $2,551; Due from State decreased by $14,842; Inventories increased by $23; Accounts Payable and Accrued Liabilities increased by $1,962; and Unearned Revenue decreased by $1,763. See Illustration 153