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Prepare journal entries and a statement of activities for the college. Assume all scholarships and research expenses were obtained from temporarily restricted funds, P 22-5 Statement of activities ---Nongovernmental not-for-profit organization The following information was taken from the accounts and records of the Community Society, a nongov crnmental not-for-profit organization. The balances are as of December 31, 2016, unless otherwise stated: Unrestricted support-contributions $3,000,000 Unrestricted support-membership dues 400,000 Unrestricted revenues--investment income 8.1.000 Temporarily restricted gain on sale of investments 5.000 Expenses education 300,000 Expenses research 2.100.000 Expers fundraising 23.00 Expenses management and general 117.000 Temporarily restricted support contribution 438,000 Temporarily restricted revenues investment income 22.500 Permanently restricted support contributions 17.00 Unrestricted news, January 1, 2016 Temporarily restricted net assets, January 1, 2016 S.COM Permanently restricted net assets. January 1, 2016 4.NO KO 772 DPTER 22 The unrestricted support from contributions was all received in cash during the year. Addition ally, the society received pledges totaling $425,000. The pledges should be collected during 2017, Crepe for the estimated uncollectible portion of S16,000. The society spent $3,789.000 of restricted were for research financed from restricted donations. Assume pledges of S425,000 are not recorded resources on construction of a major capital facility during 2016, and $500,000 of research expenses REQUIRED: Prepare the statement of activities for the Community Society for 2016