Please see attached problem that I need help completing! I'm having problems with the entire thing. Any help would be greatly appreciated!

Washington City created an Information Technology department in 2013 to centralize information technology (IT) functions for the city. The goal of the department was to reduce costs, avoid duplication of efforts, and provide up-to-date technology to all of the city's operations. The fund was designed to be selfsupporting; that is, all costs are to be recovered through user fees, but any excess of fees over expenses should be less than 5%. The pre-closing trial balance for the IT department as of December 31, 2017 is shown below. Cash Due from Other Funds Materials and Supplies Inventory Machinery and Equipment Accumulated Depreciation Accounts Payable Payroll Taxes Payable Due to Other Funds Net Position - Net Investment in Capital Assets Net Position - Unrestricted Debits $14,500 4,250 350 53,600 Credits $30,100 2,550 2,650 1,200 23,500 12,700 $72,700 $72,700 During the fiscal year ended December 31, 2017, the following transactions (summarized) occurred: 1. Gross employee wages were $57,600, including the employer's share of social security taxes amounting to $4,100. Federal income and social security taxes withheld from that amount totaled $18,725. 2. Office expenses in the amount of $3,700 were paid in cash. 3. Materials and supplies purchased on account during the year were $8,400. 4. Received a bill totaling $14,525 for utilities provided by Washington City's utility fund. 5. Cash paid to the federal government for payroll taxes was $23,000. 6. Cash paid to the Utility Fund was $14,500. 7. Accounts payable at year end totaled $2,950. 8. Materials and supplies used during the year were $8,250. 9. Charges to departments during the fiscal year were as follows: General Fund Special Revenue Fund $57,500 20,600 10. Unpaid balances at year end were: General Fund Special Revenue Fund $ 3,500 1,800 11. The depreciation for the year was $6,100. 12. Revenue and expense accounts for the year were closed. Required a-1. Prepare journal entries for the Information Technology Fund for 2017. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) view transaction list view general journal Journal Entry Worksheet 1 2 3 4 5 6 7 8 9 10 11 Gross employee wages were $57,600, including the employer's share of social security taxes amounting to $4,100. Federal income and social security taxes withheld from that amount totaled $18,725. Transaction 1 General Journal Debit Wage Expense 38,875 Payroll Tax Expense 18,725 Credit Due to Federal Government 22,825 Cash 34,775 *Enter debits before credits done clear entry record entry a-2. Prepare closing entry for the Information Technology Fund for 2017. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) view transaction list view general journal Journal Entry Worksheet 1 2 3 Record the closure of revenue and expense accounts. Transaction General Journal Debit Credit 12(a) *Enter debits before credits done clear entry record entry a-3. Prepare a statement of revenues, expenses, and changes in net position for the Information Technology Fund for 2017. WASHINGTON CITY Information Technology Fund Statement of Revenues, Expenses, and Changes in Fund Net Position For the Year Ended December 31, 2017 Billings to Departments Operating Expenses: Total Operating Expenses 0 0 Net Position, January 1, 2017 Net Position, December 31, 2017 $ 0 b. Prepare a statement of net position for the Information Technology Fund as of December 31, 2017. WASHINGTON CITY Information Technology Fund Statement of Net Position As of December 31, 2017 Assets Current Assets: Cash $ Due from Other Funds Materials and Supplies Inventory 30,500 5,300 500 Total Current Assets $ 36,300 Capital Assets: Machinery and Equipment 53,600 Less: Allowance for Depreciation 36,200 Total Capital Assets 17,400 Total Assets 53,700 Liabilities Accounts Payable 2,950 Due to Other Funds 1,225 Wage Expense 2,475 Payroll Tax Expense Total Current Liabilities 6,650 Net Position Net PositionNet Investment in Capital Assets Net PositionUnrestricted Total Net Position $ 0 c. Prepare a statement of cash flows and reconciliation of operating income to net cash provided by operations for the Information Technology Fund as of December 31, 2017. (Negative amounts should be indicated by a minus sign.) WASHINGTON CITY Information Technology Fund Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities: Cash Received from Customers $ 72,800 Cash Paid To: Suppliers $ Employees (26,225) (16,075) (42,300) Net Cash Provided by Operations $ Net Decrease in Cash and Cash Equivalents 30,500 Cash and Cash Equivalents, 01/01/2017 Cash and Cash Equivalents, 12/31/2017 30,500 14,500 $ 45,000 Reconciliation of Operating Income to Net Cash Provided by Operations Operating Income/(Loss) Adjustments: Depreciation ExpenseMachinery and Equipment Increase in Inventory Increase in Receivables from Other Funds Increase in Accounts Payable Decrease in Due to Federal Government Increase in Due to Other Funds Net Cash Provided by Operating Activities $ d. Has the manager of the IT department been able to achieve the goal of recovering costs through user fees? Yes No References eBook & Resources Financial Statements Difficulty: 3 Hard E7-17 Information Technology Internal Service Fund [LO 7-4] Learning Objective: 07-04 Describe accounting procedures and prepare journal entries and financial statements for an internal service fund. Check my work 0