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Wk 3 - Apply: Exercise 8-7 [due Day 7] i Saved The following Information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020: Cash and cash equivalents, governmental activities 600, 090 100 Cash and cash equivalents, business-type activities 1, 262, 090 Receivables, governmental activities 714, 090 points Receivables, business-type activities 2, 103, 090 Inventories, business-type activities 828, 090 Capital assets, net, governmental activities 21, 489, 090 Capital assets, net, business-type activities 11, 302, 098 Accounts payable, governmental activities 1, 927, 980 Accounts payable, business-type activities 889, Gee General obligation bonds, governmental activities 12, 401, 090 Revenue bonds, business-type activities 5, 102, 098 Long-term liability for compensated absences, governmental activities 576, 908 From the preceding Information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $881,000 for governmental activities and $365,000 for business-type activities. (Negative amounts should be Indicated by a minus sign) CITY OF SOUTHERN SPRINGS Statement of Net Position As of April 30, 2020 Governmental Business-Type Activities Activities Total Assets Cash and Cash Equivalents Receivables Receivables Capital Assets, Net Restricted Total Assets Liabilities: Accounts Payable Bonds Payable Receivables Compensated Absences Payable Total Liabilities Net Position: Net Investment in Capital Assets Restricted Unrestricted Bonds Payable Total Net Position