I need help with K through N, but I mostly need assistance with requirements B & C. Thank you!

! Required information Exercise 14-24 (Algo) Recording and Reporting Transactions [LO 14-3, 14-5) (The following information applies to the questions displayed below.) INVOLVE was incorporated as a not-for-profit organization on January 1, 2023. During the fiscal year ended December 31, 2023, the following transactions occurred. 1. A business donated rent-free office space to the organization that would normally rent for $36,700 a year. 2. A fund drive raised $193,500 in cash and $117,000 in pledges that will be paid next year. A state government grant of $167,000 was received for program operating costs related to public health education. 3. Salaries and fringe benefits paid during the year amounted to $210,260. At year-end, an additional $17,700 of salaries and fringe benefits were accrued. 4. A donor pledged $117,000 for construction of a new building, payable over five fiscal years, commencing in 2025. The discounted value of the pledge is expected to be $95,960. 5. Office equipment was purchased for $13,700. The useful life of the equipment is estimated to be four years. Office furniture with a fair value of $11,300 was donated by a local office supply company. The furniture has an estimated useful life of 10 years. Furniture and equipment are considered net assets without donor restrictions by INVOLVE. 6. Telephone expense for the year was $6,900, printing and postage expense was $13,700 for the year, utilities for the year were $10,000 and supplies expense was $6,000 for the year. At year-end, an immaterial amount of supplies remained on hand and the balance in accounts payable was $5,300. 7. Volunteers contributed $16,700 of time to help with answering the phones, mailing materials, and various other clerical activities. 8. It is estimated that 80 percent of the pledges made for the 2024 year will be collected. Depreciation expense is recorded for the full year on the assets recorded in item 5. 9. All expenses were allocated to program services and support services in the following percentages: public health education, 40 percent; community service, 30 percent; management and general, 20 percent; and fund-raising, 10 percent. 10. Net assets were released to reflect satisfaction of state grant requirements that the grant resources be used for public health education program purposes. 11. All nominal accounts were closed to the appropriate net asset accounts. I Record the depreciation expenses for the year. Record the allocation of expenses to program services and support services with public health education, 40 percent; community service, 30 percent; management and general, 20 percent; and fund-raising, 10 percent. K Record the release of Net assets to reflect satisfaction of state grant requirements that the grant resources be used for public health education program purposes. Record the closure of all nominal accounts at year end. M Record the transfer of contributions to net assets with donor restrictions account. Printing and Postage Expense Utilities Expense Supplies Expense 13,700 10,000 6,000 Cash 31,300 Accounts Payable 5,300 G 07 No Journal Entry Required H 8(a) 23,400 Provision for Uncollectible Pledges Allowance for Uncollectible Pledges 23,400 1 8(b) Depreciation Expense Allowance for DepreciationEquipment and Furniture J 09 Public Health Education Program Community Service Program Management and General Fund-Raising Salaries and Benefits Expense Rent Expense Telephone Expense Printing and Postage Expense Utilities Expense Supplies Expense 227,960 36,700 6,900 13,700 10,000 6,000 K K 10 Net Assets ReleasedSatisfaction of Purpose RestrictionWith Donor Restrictions Net Assets ReleasedSatisfaction of Purpose RestrictionWithout Donor Restrictions L 11(a) No Transaction Recorded M 11(b) No Transaction Recorded N 11(c) No Transaction Recorded b. Prepare a statement of activities for the year ended December 31, 2023. (Amounts to be deducted should be indicated with a minus sign. Round the intermediate and final answers to the nearest dollar amount.) INVOLVE Statement of Activities For the Year Ended December 31, 2023 Without Donor Restrictions With Donor Restrictions Total Revenue and Other Support: Contributions Net Assets Released from Restriction Satisfaction of Purpose $ 0 0 0 0 0 0 0 Total Revenue and Other Support Expenses: Public Health Education Community Service Management and General Fund-Raising 0 0 0 0 Total Expenses 0 0 0 0 0 0 Increase in Net Assets Beginning Net Assets Ending Net Assets $ 0 $ 0 $ 0 c. Prepare a statement of financial position for the year ended December 31, 2023. (Round the intermediate and final answers to the nearest dollar amount.) INVOLVE Statement of Financial Position December 31, 2023 Assets Total Assets $ 0 Liabilities Total Liabilities 0 Net Assets Total Net Assets 0 Total Liabilities and Net Assets $ 0