Following is the governmental activities preclosing trial balance for the Town of Freaz. Freaz is a relatively small town and, as a result, it

has only governmental funds $($i$.$e$.,$ it uses no proprietary funds$).$ There are no component units. To complete the financial statements for

its annual report, the town must prepare a government$-$wide statement of net position and a statement of activities.

The restricted net position for debt service increased $$87$ for $FY2023.$ The net position accounts do not reflect FY $2023$ depreciation

of $$1,080$ that was allocated to the functions of government. $($All $000$s omitted.$)$

Required

Using the trial balance provided by the town, prepare a government$-$wide statement of net position. $($Enter your answers in

thousands.$)$

question:

a$)$ Using the trial balance provided by the town, prepare a government$-$wide statement of net position. $($Enter your answers in thousands.$)$

b$)$An annual audit is required for the non$-$federal entity's financial statements and federal awards expenditures. Conducted by an external auditor from federal, state, or local agencies, it adheres to GAGAS guidelines and covers the entire entity's operations. The auditor ensures compliance with GAAP for financial statements and evaluates the fairness of federal awards expenditure schedules. Internal control understanding for compliance is required for each major program. OMB designates federal awarding agencies and non$-$federal entities as "Pass$-$through" agents for distributing federal awards.