Garfield State University had the following account balances for the year ending June 30, 20X4. The accounts have their normal balances.

Student tuition and fee revenue	$ 9,345,000
Scholarship tuition and fee contra revenue	1,210,000
Scholarships and fellowships expense	988,000
State appropriation for operations	10,000,000
Auxiliary enterprises revenue	9,321,000
Salaries--faculty	8,312,000
Capital appropriations	2,100,000
Depreciation expense	3,276,000
Salaries--institutional support	5,432,000
Capital grants and gifts	1,110,000

Benefits--faculty	2,686,500
Benefits--institutional support	895,500
Federal grants and contracts revenue	1,221,000
Salaries--academic support	2,837,400
Salaries--student services	1,891,400
State and local grants and contracts revenue	888,000
Gifts	1,345,000
Additions to permanent endowments	900,000
Investment income	873,000
Auxiliary enterprises operating expenses	2,982,000
Interest on capital related debt	1,984,000
Net assets, beginning of year	35,217,000

REQUIRED:Prepare, in proper form, a Statement of Revenues, Expenses, and Changes in Net Assets for Garfield State University for the year ending June 30, 20X4. Be sure to use appropriate titles