Please prepare a statement of functional expenses for the year ended December 2014 as laid out in the table below.

1. A business donated rent-free office space to the organization that would normally rent for $16,000 a year. ?

2.Afunddriveraised$120,000incash.Astategovernmentgrantof$50,000was received for program operating costs. ?

3. An administrator was hired to administer the program services and support services of the organization. The administrator was paid $92,000 for the year, which included fringe benefits. Part-time clerical help was paid $26,000 for the year. At year-end, $18,000 of the salaries and wages remained unpaid. ?

4. Pledges of $100,000 were received for construction of a new building. The pledges are payable over the following five fiscal years. The discounted value of the $80,000 in pledges expected to be received in years 20162019 is $73,400. ?

5. Office equipment was purchased for $5,000. The useful life of the equipment is estimated to be five years. Office furniture with a fair value of $7,600 was donated by a local office supply company. The furniture has an estimated useful life of 10 years. Furniture and equipment are considered unrestricted net assets by SOLVE. ?

6. Telephone expense for the year was $5,600, printing and postage expense was $10,000 for the year, and supplies expense was $2,100 for the year. At year-end,an immaterial amount of supplies remained on hand and the balance in accounts payable was $3,800.

7. Volunteers contributed $15,000 of time to help with answering the phones, ?mailing materials, and various other clerical activities. ?

8. It is estimated that all of the pledges made for the 2015 year will be collected. ?Depreciation expense is recorded for the full year on the assets recorded in item ?5. ?

9. Expenses were allocated in the following percentages: public health education, ?35%; community service, 25%; management and general, 20%; and fundraising, ?20%. ?

10.Net assets were released to reflect satisfaction of state grant requirements that the grant resources be used for program purposes.?11.All nominal accounts were closed to the appropriate net asset accounts.