Hw 8 1 Saved The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2017: Cash and cash equivalents, governmental activities $ 380, 000 Cash and cash equivalents, business-type activities 800, 906 Receivables, governmental activities 450,006 10 Receivables, business-type activities 1, 330, 000 points Inventories, business-type activities 520, 000 Capital assets, net, governmental activities 13, 500, 090 Capital assets, net, business-type activities 7, 100, 000 Accounts payable, governmental activities 650, 090 Accounts payable, business-type activities 559, 000 Print General obligation bonds, governmental activities 7,890, 000 Revenue bonds, business-type activities 3, 210, 000 Long-term liability for compensated absences, governmental activities 359,000 References Required: From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2017. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $554,000 for governmental activities and $190,000 for business-type activities. (Negative amounts should be indicated by a minus sign.) CITY OF SOUTHERN SPRINGS Statement of Net Position April 30, 2017 Governmental Business-Type Activities Activities Total Assets: Cash and Cash Equivalents $ 380,000 $ $00,000 5 1,180,000 Receivables 450,000 ,330,000 1,780,000 Inventories 520,000 520,000 Capital Assets, Net 3,500,000 7,100,000 20,600,000 Total Assets 4,330,00 9,750,000 24,080,000 Liabilities Accounts Payable 650,000 559,000 1,209,000 Compensated Absences Payable 359,000 359,000 Bonds Payable 7,800,000 3,210,000 11,010,000 Total Liabilities 8.809.000 8,769,000 12,578,000 Net Position: Net Investment in Capital Assets 5,700,000 3,890,000 9,590,000 Restricted 554,000 190,000 744,000 Unrestricted tal Net Position S 6,254,000 5 4,080,000 5 10,334,000