PLEASE SCHEDULE OF EXPENSES & PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE. THANK YOU!!

Required information The following information applies to the questions displayed below.] INVOLVE was incorporated as a not-for-profit voluntary health and welfare organization on January 1, 2020. During the fiscal year ended December 31, 2020, the following transactions occurred. 1. A business donated rent-free office space to the organization that would normally rent for $35.100 a year. 2. A fund drive raised $185,500 in cash and $101,000 in pledges that will be paid within one year. A state government grant of $151,000 was received for program operating costs related to public health education. 3. Salaries and fringe benefits paid during the year amounted to $208,660. At year-end, an additional $16,100 of salaries and fringe benefits were accrued. 4. A donor pledged $101,000 for construction of a new building, payable over five fiscal years, commencing in 2022. The discounted value of the pledge is expected to be $94.360. 5. Office equipment was purchased for $12,100. The useful life of the equipment is estimated to be four years. Office furniture with a fair value of $9,700 was donated by a local office supply company. The furniture has an estimated useful life of 10 years. Furniture and equipment are considered net assets without donor restrictions by INVOLVE. 6. Telephone expense for the year was $5,300, printing and postage expense was $12,100 for the year, utilities for the year were $8,400 and supplies expense was $4,400 for the year. At year-end, an immaterial amount of supplies remained on hand and the balance in accounts payable was $3,700. 7. Volunteers contributed $15,100 of time to help with answering the phones, mailing materials, and various other clerical activities. 8. It is estimated that 80 percent of the pledges made for the 2021 year will be collected. Depreciation expense is recorded for the full year on the assets recorded in item 5. 9. All expenses were allocated to program services and support services in the following percentages: public health education, 40 percent; community service, 20 percent, management and general, 20 percent, and fund-raising, 20 percent. 10. Net assets were released to reflect satisfaction of state grant requirements that the grant resources be used for public health education program purposes. 11. All nominal accounts were closed to the appropriate net asset accounts. e. Prepare a schedule of expenses by nature and function for the year ended December 31, 2020. INVOLVE Reporting of Expenses by Nature and Function For the Year Ended December 31, 2020 Program Services Support Services All Services Public Health Education Community Service Management and General Fund-Raising Total Total $ 0 $ 0 $ 0 $ 0 $ 0 No Credit Transaction 01 General Journal Rent Expense ContributionsWith Donor Restrictions-Program Debit 35,100 A B 02 101,000 336,500 Contributions Receivable Cash ContributionsWithout Donor Restrictions Contributions-With Donor Restrictions-Program 185,500 252,000 Salaries and Benefits Expense 224,760 Cash 206,660 16,100 Salaries and Benefits Payable 101,000 Contributions Receivable ContributionsWith Donor RestrictionsTime Discount on Contributions Receivable 94,360 6,640 05 Equipment and Furniture 21,800 Cash 12,100 9,700 ContributionsWithout Donor Restrictions Telephone Expense Printing and Postage Expense 5,300 12,100 F 0 6 Telephone Expense Printing and Postage Expense Utilities Expense Supplies Expense Cash Accounts Payable 5,300 12,100 8,400 4,400 26,500 3,700 G 0 7 No Journal Entry Required 8(a) 20,200 Provision for Uncollectible Pledges Allowance for Uncollectible Pledges-Unrestricted 20.200 A 8(b) 3,995 Depreciation Expense Allowance for Depreciation-Equipment and Furniture 3,995 J 0 9 125,702 65,851 65,851 65,851 Public Health Education Program Community Service Program Management and General Fund-Raising Salaries and Benefits Expense Rent Expense Telephone Expense Printing and Postage Expense 224,760 35,100 5,300 12,100 65,851 65,851 65,851 Community Service Program Management and General Fund-Raising Salaries and Benefits Expense Rent Expense Telephone Expense Printing and Postage Expense Utilities Expense Supplies Expense Depreciation Expense 224,760 35,100 5,300 12,100 8,400 4,400 3,995 CK 10 125,702 Net Assets Released-Satisfaction of Purpose Restriction-With Donor Restrictions Net Assets Released-Satisfaction of Purpose Restriction-Without Donor Restrictions 125,702 11(a) 230,300 83,955 ContributionsWithout Donor Restrictions Net Assets Without Donor Restrictions Public Health Education Program Community Service Program Management and General Fund-Raising 125,702 62,851 62,851 62,851 11(b) ContributionsWith Donor RestrictionsProgram ContributionsWith Donor Restrictions-Time Net Assets With Donor Restrictions 252,000 94,360 346, 360 INVOLVE Statement of Activities For the Year Ended December 31, 2020 Without Donor Restrictions With Donor Restrictions Total Revenue and Other Support: Contributions $ $ $ 576,660 230,300 125,702 346,360 (125,702) Net Assets Released from Restriction Satisfaction of Purpose 356,002 220,658 576,660 0 Total Revenue and Other Support Expenses: Public Health Education Community Service Management and General Fund-Raising 0 125,702 62,851 62,851 62,851 0 0 125,702 62,851 62,851 62,851 0 314,255 262,405 314,255 41,747 0 220,658 Total Expenses Increase in Net Assets Beginning Net Assets Ending Net Assets $ 41,747 $ 220,658 $ 262,405 INVOLVE Statement of Financial Position December 31, 2020 Assets $ Cash Contributions Receivable Equipment and Furniture 89,240 175,160 17,805 Total Assets $ 282,205 Liabilities $ Accounts Payable Salaries and Benefits Payable 3,700 16,100 Total Liabilities 19,800 Net Assets Without Donor Restrictions With Donor Restrictions 41,747 220,658 Total Net Assets Total Liabilities and Net Assets 262,405 282,205 $