***I HAVE THE ANSWERS, I JUST NEED TO KNOW HOW TO CALCULATE THE HIGHLIGHTED ITEMS PLEASE:

The following information pertains to the City of Williamson for 2020, its first year of legal existence. For convenience, assume that all transactions are for the general fund, which has three separate functions: general government, public safety, and health and sanitation. 4 Receipts: Property taxes $436,000 Franchise taxes 49,900 Charges for general government services 6,600 Charges for public safety services 3,900 Charges for health and sanitation services 49,400 Issued long-term note payable 300,000 Receivables at end of year: Property taxes (90% estimated to be collectible) 93,600 Payments: Salary: General government 70, 550 Public safety 40,900 Health and sanitation 22,900 Rent: General government 15, 700 Public safety 18, 200 Health and sanitation 3,000 Maintenance: General government 37,600 Public safety 7,800 Health and sanitation 11,000 Insurance: General government 9,200 Public safety ($2,500 still prepaid at end of year) 13,800 Health and sanitation 16,700 Interest on debt 24,000 Principal payment on debt 6,000 Storage shed 175,000 Equipment 125,000 Supplies (20% still held) (public safety) 20,900 Investments 100,000 Ordered but not received: Equipment 21,500 Liabilities, all of which are due in one month at end of year: Salaries: General government 6,600 Public safety 7,500 Health and sanitation 8,100 Compensated absences (such as vacations and sick days) legally owed to general government workers at year-end total $22,500. These amounts will not be taken by the employees until so late in 2021 that the payment is not viewed as requiring 2020 current financial resources. The city received a piece of art this year as a donation. It is valued at $16,700. The city plans to use it for general government purposes. The gift has no eligibility requirements. The city chose not to capitalize this property. General government activities use the storage shed that was acquired this year. It is depreciated over a 10-year period using the straight-line method with no residual value. The city uses the equipment for health and sanitation and depreciates it using the straight-line method over five years with no residual value. The investments are valued at $114,200 at the end of the year. For the equipment that was ordered but not yet received, the City Council (the highest decision-making body in the government) voted to honor the commitment when the equipment eventually arrives. a-1. Prepare a statement of activities for governmental activities in government-wide financial statements for December 31, 2020, and the year then ended. a-2. Prepare a statement of net position for governmental activities in government-wide financial statements for December 31, 2020, and the year then ended. b-1. Prepare a statement of revenues, expenditures, and other changes in fund balances for the general fund in fund financial statements as of December 31, 2020, and the year then ended. Assume that the city applies the consumption method. b-2. Prepare a balance sheet for the general fund in fund financial statements as of December 31, 2020, and the year then ended. Assume that the city applies the consumption method. A1. CITY OF WILLIAMSON Statement of Activities For Year Ended December 31, 2020 Program Revenues Charges Operating Grants and Capital Grants for and Contribution Services Contributions S Net (Expense) Revenue and Changes in Net Position Functions/Programs Expenses Governmenta Business-type I Activities Activities Total $16,700 Governmental activities General government Public safety Health and sanitation Interest on debt $196,350 102,420 86,700 24,000 $6,600 3,900 49,400 $(173,050) (98,520) (37,300) (24,000) $(173,050) (98,520) (37,300) (24,000) $409,470 $59,900 $0 $16,700 $(332,870) $0 $(332,870) Total governmental activities General revenues: Property taxes Franchise taxes Investments (gain) $520,240 49,900 14,200 $520,240 49,900 14,200 $0 $584,340 251,470 $584,340 251,470 0 Total general revenues Change in net position Net position-beginning Net position-ending $251,470 $0 $251,470 A2. CITY OF WILLIAMSON Statement of Net Position December 31, 2020 Governmental Business-type Activities Activities Total Assets: Cash and cash equivalents Prepaid expenses Investments Receivables (net) Inventories Capital assets (net) $127,550 2,500 114,200 84,240 4,180 257,500 $127,550 2,500 114,200 84,240 4,180 257,500 $590,170 $0 $590,170 Total assets Liabilities: Salaries payable Compensated absences liability Noncurrent liabilities 22,200 22,500 294,000 22,200 22,500 294,000 $338,700 $0 $338,700 Total Liabilities Net position: Invested in capital assets, net of related debt Unrestricted (deficit) (36,500) 287,970 (36,500) 287,970 Total net position $251,470 $0 $251,470 B1. CITY OF WILLIAMSON Statement of Revenues, Expenditures, and Other Changes in Fund Balances Governmental Funds For Year Ended December 31, 2020 General Total Government Funds Fund Revenues: Property taxes $520,240 $520,240 Franchise taxes 49,900 49,900 Charges for services 59,900 59,900 Investments (gain) 14,200 14,200 $644,240 $644,240 Total revenues Expenditures: General government Public safety Health and sanitation $139,650 102,420 61,700 $139,650 102,420 61,700 Debt service: Principal payment on debt Interest on debt Capital outlay 6,000 24,000 300,000 6,000 24,000 300,000 $633,770 $10,470 $633,770 $10,470 Total expenditures Excess of revenues over expenses Other financing sources: Proceeds from long-term note 300,000 300,000 $300,000 310,470 $300,000 310,470 Total other sources Net changes in fund balance Fund balances (Beginning) Fund balances (Ending) $310,470 $310,470 B2. CITY OF WILLIAMSON Balance Sheet Governmental Funds December 31, 2020 General Fund Total Government Funds Assets: Cash and cash equivalents Prepaid expenses Investments Receivables, net Inventories $127,550 2,500 114,200 84,240 4,180 $127,550 2,500 114,200 84,240 4,180 $332,670 $332,670 Total assets Liabilities: Salaries payable $22,200 $22,200 $22,200 $22,200 Total liabilities Fund balances: Nonspendable Committed for equipment Unassigned $6,680 21,500 282,290 $6,680 21,500 282,290 Total fund balances Total liabilities and fund balances $310,470 $332,670 $310,470 $332,670