Option #1: State and Local Government Reporting The information below should be used to prepare (in proper form in Excel) a Public Transportation column for the proprietary fund Statement of Revenues, Expenses, and Changes in Fund Net Position for the fiscal year ending May 31, 2018. Operating Revenue (Services) $25,705,000 nterest Revenue $36,000 Intergovernmental Revenue $140,000 Capital Contributions $1,200,000 Operating Expenses: $8,654,000 Employee Wages $750,000 Temporary Labor $6,425,000 Repairs and Maintenance Depreciation $4,532,000 $948,000 Utilities $475,000 Interest Expense Transfer to General Fund $315,000 $3,820,000 Net position, June 1,2017 Please also answer the following questions in MS Word: 1. What observations can you make about the fund's activity from June 1, 2017-May 31, 2018? 2. Identify the other proprietary fund statements and what measurement focus and basis for accounting are used in those statements. 3. What reports and schedules are included in the CAFR as required supplementary information? Option #1: State and Local Government Reporting The information below should be used to prepare (in proper form in Excel) a Public Transportation column for the proprietary fund Statement of Revenues, Expenses, and Changes in Fund Net Position for the fiscal year ending May 31, 2018. Operating Revenue (Services) $25,705,000 nterest Revenue $36,000 Intergovernmental Revenue $140,000 Capital Contributions $1,200,000 Operating Expenses: $8,654,000 Employee Wages $750,000 Temporary Labor $6,425,000 Repairs and Maintenance Depreciation $4,532,000 $948,000 Utilities $475,000 Interest Expense Transfer to General Fund $315,000 $3,820,000 Net position, June 1,2017 Please also answer the following questions in MS Word: 1. What observations can you make about the fund's activity from June 1, 2017-May 31, 2018? 2. Identify the other proprietary fund statements and what measurement focus and basis for accounting are used in those statements. 3. What reports and schedules are included in the CAFR as required supplementary information