On July 1 2019. the City of Belvedere accepted a gift of cash in the amount of $3,320,000 from a number of individuals and foundations and signed an agreement to establish a private purpose trust the $3.320,000 and any additional are to be invested and retained as principal income from the trust is to be distributed to community nonprofit groups os directed by a Board conting of city officials and other community leaders. The agreement provides that any increases in the market value of the principal investments are to be held in trust if the investments foll below the gift amounts, then earnings are to be withheld until the principal amount is te established The following events and transactions occurred during the focal year ended June 30, 2020. Record them in the Belvedere communty Trust Fund 1 On July 1, the original gift of cash was received 2. On August 1. $2,204.000 in XYZ Company donat were purchased at par plus accrued interest ($26.72. The bonds pay on annual 3. On August 2.5900.000 In ABC Company common stock was purchased ABC romay declares and pays avidends comianuary on January 31 and July 31 4.On October , the first servannual interest payment (555100) was received from XYZ Company. Note that part of this is for accrued Interest due at the time of purchase the remaining part is an addition that may be used for distribution 5. On January 31, a condividend was received from ABC Company in the amount of $25,000 6. On March 1, the ABC stock was sold for 5921000. On the same day. DEF Company stock was purchased for $976.000 7. On April, the second semiannual interest payment was received from XYZ Company B. During the month of June, distributions were approved by the Board and paid in cash in the amount of 589.000 9. Administrative expenses were and paid in the amount of $6.600 10 An accrual for interest on the XYZ bonds was made as of June 30, 2020 11. As of June 30 2020, the far value of the XYZ bonds exciusive of accrued interest, was determined to be $2.205.000 The fair value of the DEF stock was determined to be $972.000 12. Closing entnes were prepared orde Required: a. The above events and transactions occurred during the fiscal year ended June 30, 2020 Record them in the Belvedere Community Trust Fund b. Prepare a statement of Changes in Fiduciary Net Position for the Belvedere Community Trust Fund and 2) a Statement of Fiduciary Net Position