Please explain the steps

The Louisville City bus system engaged in the following transactions:

1. It issued $10,000,000 in 8 percent revenue bonds. It used the proceeds to acquire new buses. The bonds

were issued at par.

2.Consistent with a bond covenant, the system set aside 1 percent of the bonds gross proceeds for repair contingencies.

Correspondingly, it designated an equal dollar amount of net position as restricted to repairs.

3.The bus system accrued nine months interest ($600,000) at year-end.

4.The bus system incurred $50,000 of repair costs, paying for them with the cash set aside for repair

contingencies.

Q: What is the total Asset at the end of the year?