I only need the Statement of Net Position, Statement of Cash Flows, and Net Position January 1st. Everything else is already done.

Washington City created an Information Technology department four years ago to centralize Information technology (IT) functions for the city. The goal of the department was to reduce costs, avoid duplication of efforts, and provide up-to-date technology to all of the city's operations. The fund was designed to be self-supporting, that is, all costs are to be recovered through user fees, but any excess of fees over expenses should be less than 4 percent. The preclosing trial balance for the IT department as of last year, is shown below. Cash Due from Other Funds Materials and Supplies Inventory Machinery and Equipment Accumulated Depreciation Accounts Payable Due to Federal Government Due to Other Funds Net Position-Net Investment in Capital Assets Net Position-Unrestricted Debits Credits (in thousands) $ 14,800 4,550 390 54,300 $ 30,660 2,730 2,200 1,210 23,700 131ee $ 74,640 $ 74,040 During the current fiscal year ended December 31, the following transactions (summarized in thousands of dollars) occurred: 1. Gross employee wages were $59,400, including the employer's share of social security taxes amounting to $4,230 Federal income and social security taxes withheld from that amount totaled $19,320. 2. Office expenses in the amount of $3,830 were paid in cash 3. Materials and supplies purchased on account during the year were $8,700, 4. A bill totaling $15,050 was received for utilities provided by Washington City's utility fund 5. Cash paid to the federal government for payroll taxes was $23,800. 6. Cash paid to the Utility Fund was $14,800. 7. Accounts payable at year-end totaled $3,050 8. Materials and supplies used during the year were $8,540. 9. Charges to departments during the fiscal year were as follows: General Fund Special Revenue Fund $59,500 21,200 10. Unpaid balances at year-end were: General Fund Special Revenue Fund $ 3,600 1,900 11. The depreciation for the year was $6,200. 12. Revenue and expense accounts for the year were closed. Required a-1 Prepare journal entries for the Information Technology Fund for the current year ended December 31, (If no entry is required for transaction/event, select "No Journal Entry Required in the first account field. Enter your answers in thousands of dollars.) Answer is complete and correct. No Transaction A 1 Debit Credit General Journal Wage Expense Payroll Tax Expense Due to Federal Government Cash 55,170 4.230 23,550 35,850 B 2 Office Expenses Cash 3,830 3,830 3 Materials and Supplies Inventory Accounts Payable 8.700 O 8,700 D 4 Utility Expense Due to Other Funds 15.050 15.050 mi E 5 23.800 Due to Federal Government Cash OS 23,800 F 6 Due to Other Funds 14,800 Ol Cash 14,800 8,380 G 7 Accounts Payable Cash O 8,380 H 8,540 Cost of Materials and Supplies Used Materials and Supplies Inventory 8,540 9 80.700 Due from Other Funds Bilings to Departments O 80.700 J 10 79,750 > Cash Due from Other Funds 79.750 6,200 K 11 Depreciation Expense Allowance for Depreciation 6.200 a-2 Prepare closing entry for the information Technology Fund for the current year ended December 31 (f no entry is required for a transaction/event, select "No Joumal Entry Required" in the first account field. Enter your answers in thousands of dollars.) Answer is complete and correct. No Credit Transaction 12(a) Debit 80,700 12,320 General Journal Billings to Departments Excess of Cost Over Net Billings to departments Wage Expense Payroll Tax Expense Utility Expense Office Expenses Cost of Materials and Supplies Used Depreciation Expense oooooooo 65,170 4230 15.050 3,830 8,540 6,200 >>OIC > 12,320 B 12/6) Net Position-Unrestricted Excess of Cost Over Net Billings to departments SO 12 320 6.200 12c) Net Position-Net Investment in Capital Assets Net Position-Unrestricted oo 6.200 x Answer is not complete. WASHINGTON CITY Information Technology Fund Statement of Revenues, Expenses, and Changes in Fund Net Position For the Year Ended December 31 Billings to Departments 80.700 Operating Expenses: Wage Expense $ 55,170 Office Expenses 3,830 Utility Expense 15.050 8,540 Cost of Materials and Supplies Used 6,200 Depreciation Expense 4,230 Payroll Tax Expense 93.020 (12.320) Total Operating Expenses Operating Loss Net Position, January 1 Net Position, December 31 $ (12,320) X Answer is not complete. WASHINGTON CITY Information Technology Fund Statement of Net Position As of December 31 Assets Current Assets IS 0 Total Current Assets Capital Assets 0 0 Total Capital Assets Total Assets Liabilities 0 Total Current Liabilities Net Position Net Position-Net Investment in Capital Assets Net Position-Unrestricted Total Net Position $ Answer is not complete. WASHINGTON CITY Information Technology Fund Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities: Cash Received from Customers Cash Paid To: 0 $ 0 0 Net Cash Provided by Operations Net Decrease in Cash and Cash Equivalents Cash and Cash Equivalents, 01/01 Cash and Cash Equivalents, 12/31 0 Reconciliation of Operating Income to Net Cash Provided by Operations Operating Income/(Loss) Adjustments Depreciation Expense-Machinery and Equipment Increase in Inventory Increase in Receivables from Other Funds Increase in Accounts Payable Decrease in Due to Federal Government Increase in Due to Other Funds Net Cash Provided by Operating Activities 0