Preparation of financial statements for a nonprofit Following are the preclosing fund trial balances as of December 31, 2018, for Olivers Place, a nonprofit. Prepare a statement of activities for the year ended December 31, 2018; also prepare a statement of financial position as of December 31, 2018. Olivers Place Preclosing Trial Balances December 31, 2018 Unrestricted Current Fund Debit Credit Cash $11,000 Contributions receivable 20,000 Investments 22,000 Allowance for uncollectible contributions $5,000 Contributions revenueSupport without donor restrictions 115,000 Contributed servicesSupport without donor restrictions 10,000 Investment income, without donor restrictions 1,000 Unrealized investment gains, without donor restrictions 2,000 Net assets without donor restrictionsReclassifications insatisfaction of program restrictions 3,000 Care of animals expenses 50,000 Special programs expenses 3,000 Administrative expenses 30,000 $136,000 $136,000 Restricted Current Fund Debit Credit Cash $14,000 Contributions revenueSupport with donor restrictions $17,000 Net assets with donor restrictions - Reclassifications outsatisfaction of program restrictions 3,000 $17,000 $17,000 Endowment Fund Debit Credit Investments $47,000 Contributions revenueSupport with donor restrictions $50,000 Unrealized investment losses, with donor restrictions 3,000 $50,000 $50,000 Use a negative sign with your answers for Realized/unrealized investment gains/losses, and Net assets released from restrictions - when applicable. Otherwise do not use negative signs with your answers. Oliver's Place Statement of Activities For the Year Ended December 31, 2018 Without Donor Restrictions With Donor Restrictions Total Revenues, Gains, and Other Support: Contributions $Answer $Answer $Answer Contributed services Answer Answer Answer Investment income Answer Answer Answer Realized/unrealized investment gains/(losses) Answer Answer Answer Net assets released from restrictions due to satisfaction of program restrictions Answer Answer Answer Total revenues, gains, and other support Answer Answer Answer Expenses: Care of animals expense Answer Answer Answer Special programs expense Answer Answer Answer Administrative expenses Answer Answer Answer Total expenses Answer Answer Answer Change in net assets Answer Answer Answer Net assets, beginning of year Answer Answer Answer Net assets, end of year $Answer $Answer $Answer Olivers Place Statement of Financial Position December 31, 2018 Assets: Cash $Answer Contributions receivable, less allowance for uncollectibles Answer Investments Answer Investments restricted for endowment Answer Total assets $Answer Liabilities and Net Assets: Liabilities $Answer Net assets: Without donor restrictions Answer With donor restrictions: Time restricted only (for use in 2019) Answer Purpose restricted Answer Perpetual in nature (net of deficiency) Answer Total liabilities and net assets $Answer