Following are the preclosing fund trial balances as of December 31, 2018, for Pet City, an NFPO. (The trial balances are based on the transactions contained in PROBLEM 2 above) Prepare (a) statement of activities for the year ended December 31, 2018; and (b) prepare a statement of financial position as of December 31, 2018.

Pet City Preclosing Trial Balances December 31, 2018 Unrestricted Current Fund Debit Credit $ 11,000 20,000 22,000 Cash Contributions Receivable Investments Allowance for uncollectible contributions Unrestricted support-contributions Unrestricted support-donated services Unrestricted revenue-investment income Unrestricted gains-unrealized investment gains Unrestricted asset reclassification in- Satisfaction of program restrictions Care of animals expenses Special programs expenses Administrative expenses 5,000 115,000 10,000 1,000 2,000 3,000 50,000 3,000 30,000 Restricted Current Fund Debit Credit $14,000 $17,000 Cash Temporarily restricted support-contributions Temporarily restricted asset reclassifications out-satisfaction of program restrictions 3,000 $17,000 $17,000 Endowment Fund Credit Debit $47,000 Investments Permanently restricted support-contributions Permanently restricted losses-unrealized investment losses $50,000 3,000 $50,000 $50,000 Pet City Statement of Activities For the Year Ended December 31, 2018 Temporarily Permanently Unrestricted Restricted Restricted Total $ xxxxxxx $ XXXXXXX $ XXXXXXX XXXXXXX XXXXXXX Revenues, Gains and Other Support: Contributions Donated services Investment income Realized/unrealized invest. gains (losses) Net assets released from restrictions: satisfaction of program restrictions Total revenues, gains and other support $ XXXXXXX XXXXXXX xxxxxxx XXXXXXX XXXXXXX XXXXXXX XXXXXXX(XXXXXXX) XXXXXXX XXX XXXXXXX XXXXXXX XXXXXX Expenses: Care of animals expense Special programs expense Administrative expensesXXXXXX Total expensesXXXXXX xxxxxxx XXXXXXX XXXXXX XXXXXXX XXXXXXX XXXXXX XXXXXXX Change in net assets Net assets, beginning of year Xxxxxx XXXXXX XXXXXXX XXXXXXX XXXXXX XXXXXXX Net assets, end of year $XXXXXXX S XXXXXX S xxxxxx $XXXXXXX Pet City Statement of Financial Position December 31, 2018 $ XXXXXX Assets: Cash Contributions receivable, less allowance for uncollectibles of $XXXXXX Investments Investments restricted for endowment XXXXXX XXXXXX XXXXXX Total assets S XXXXXX Sxxxxxx Liabilities and Net Assets: Liabilities Net assets: Unrestricted Temporarily restricted XXXXXX XXXXXX Permanently restricted XXXXXX Total liabilities and net assets XXXXXX Pet City Preclosing Trial Balances December 31, 2018 Unrestricted Current Fund Debit Credit $ 11,000 20,000 22,000 Cash Contributions Receivable Investments Allowance for uncollectible contributions Unrestricted support-contributions Unrestricted support-donated services Unrestricted revenue-investment income Unrestricted gains-unrealized investment gains Unrestricted asset reclassification in- Satisfaction of program restrictions Care of animals expenses Special programs expenses Administrative expenses 5,000 115,000 10,000 1,000 2,000 3,000 50,000 3,000 30,000 Restricted Current Fund Debit Credit $14,000 $17,000 Cash Temporarily restricted support-contributions Temporarily restricted asset reclassifications out-satisfaction of program restrictions 3,000 $17,000 $17,000 Endowment Fund Credit Debit $47,000 Investments Permanently restricted support-contributions Permanently restricted losses-unrealized investment losses $50,000 3,000 $50,000 $50,000 Pet City Statement of Activities For the Year Ended December 31, 2018 Temporarily Permanently Unrestricted Restricted Restricted Total $ xxxxxxx $ XXXXXXX $ XXXXXXX XXXXXXX XXXXXXX Revenues, Gains and Other Support: Contributions Donated services Investment income Realized/unrealized invest. gains (losses) Net assets released from restrictions: satisfaction of program restrictions Total revenues, gains and other support $ XXXXXXX XXXXXXX xxxxxxx XXXXXXX XXXXXXX XXXXXXX XXXXXXX(XXXXXXX) XXXXXXX XXX XXXXXXX XXXXXXX XXXXXX Expenses: Care of animals expense Special programs expense Administrative expensesXXXXXX Total expensesXXXXXX xxxxxxx XXXXXXX XXXXXX XXXXXXX XXXXXXX XXXXXX XXXXXXX Change in net assets Net assets, beginning of year Xxxxxx XXXXXX XXXXXXX XXXXXXX XXXXXX XXXXXXX Net assets, end of year $XXXXXXX S XXXXXX S xxxxxx $XXXXXXX Pet City Statement of Financial Position December 31, 2018 $ XXXXXX Assets: Cash Contributions receivable, less allowance for uncollectibles of $XXXXXX Investments Investments restricted for endowment XXXXXX XXXXXX XXXXXX Total assets S XXXXXX Sxxxxxx Liabilities and Net Assets: Liabilities Net assets: Unrestricted Temporarily restricted XXXXXX XXXXXX Permanently restricted XXXXXX Total liabilities and net assets XXXXXX