Item1

100points

Item 1

The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020:

Cash and cash equivalents, governmental activities	$	540,000
Cash and cash equivalents, business-type activities		1,136,000
Receivables, governmental activities		642,000
Receivables, business-type activities		1,893,000
Inventories, business-type activities		744,000
Capital assets, net, governmental activities		19,311,000
Capital assets, net, business-type activities		10,156,000
Accounts payable, governmental activities		925,000
Accounts payable, business-type activities		799,000
General obligation bonds, governmental activities		11,147,000
Revenue bonds, business-type activities		4,586,000
Long-term liability for compensated absences, governmental activities		516,000

From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $791,000 for governmental activities and $305,000 for business-type activities. (Negative amounts should be indicated by a minus sign)

Please help: this is my 2nd or 3rd post; the other solution you provided was wrong. Please complete the requirements. Correct and complete answer please. I appreciate your help! Thank you!