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Long-Term Liabilities in the Government-Wide and Fund Statements The City of Fremont's fiscal year ends June 30. The city issued the following general obligation bonds: 1. On July 1,2014 , the city issued 5 percent, $100,000 face value, 10-year bonds for $92,640, to yield 6 percent. Interest is payable on June 30 of each year. 2. On January 1,2016 , the city issued 5 percent, $100,000 face value, 10 -year bonds for $108,115, to yield 4 percent. Interest is payable on December 31 of each year. a. Determine the amounts reported in the government-wide statement of activities and statement of net position for fiscal year 2017 , related to the bonds. HINT: Use the effective interest method and assume the total annual interest expense reported for the second bond is split equally between the two fiscal years. Round answers to the nearest dolla 2017 Statement of Activities Interest expense