I need help with a problem. This is a not-for-Profit Accounting question. The book is Advanced Accounting 3e, Halsey, Hopkins, Cambridge Publishers, ISBN: 978-1-61853-190-2 . The question is Chapter 11 Problem 11-31. It begins with Preparation of journal entries and financial statements for not-for-profit. Wings is a not-for-profit organization dedicated to the promotion of flying in youths. It owns a number of airplanes at various airports which it uses to provide introductory flights in order to encourage young adults to pursue flight training lessons and possible careers as commercial airline pilots. At the end of last year, Wings reported the following trial balance: During the following year, Wings received $2,240,000 of unrestricted donations, $224,000 of donations whose use is temporarily restricted by donors as to use, and $36,000 of donations that are permanently restricted (i.e., only the interest can be used to cover program expenses if so approved by the Board of Trusteesno such approval was granted during the current year). All contributions are on account when made. Program and support expenses for the current year are $2,080,000 and $296,000, respectively, both on account. Of the program expenses, $160,000 are funded from temporarily restricted funds as they are used for approved expenditures. During the year, Wings purchased an airplane for a cash purchase price of $232,000 and recorded depreciation expense on existing depreciable assets of $72,000. The organization purchased additional investments with excess cash in the amount of $96,000 and also repaid $92,000 principal amount of long-term debt. Finally, during the year, the organization collected $2,400,000 of contributions receivable and paid $2,320,000 of accounts payable. At year-end, the investments are allocated as follows: InvestmentUnrestricted 5 .0% InvestmentTemporarily Restricted 5.35% InvestmentPermanently Restricted 5.25%

a. Prepare journal entries for the organizations financial activities during the year.

b. Prepare the year-end Statement of Activities and Statement of Financial Position

P11-31 data
Beginning Balances:	DR	CR
Cash	$144,000
Investments	1,920,000
Contributions Receivable	416,000
PPE, net	960,000
Payables		$320,000
Long-term Liabilities		640,000
Net Assets - Unrestricted		1,280,000
Net Assets - Temporarily Restricted		880,000
Net Assets - Permanently restricted		320,000
	$3,440,000	$3,440,000

Statement of Activities:	Unrestricted	Temporarily Restricted	Permanently Restricted		Total
Revenues - Contributions
Revenues - Investment
Net Assets Released from Restriction
Total Revenue and Gains
Expenses - Program
Expenses - Support
Depreciation expense
Total Operating Expenses
Change in Net Assets
Net Assets, beginning of year
Net Assets, end of year
Statement of Financial Position:
Cash
Investments
Contributions Receivable
Total Current Assets
PPE, net
Total Assets
Payables
Total Current Liabilities
Long-term Liabilities
Total liabilities
Net Assets - Unrestricted
Net Assets - Temporarily Restricted
Net Assets - Permanently restricted
Total Net Assets
Total Liabilities and Net Assets