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Preparation of financial statements for not-for-profit Following is financial data for the Center for Cardio Research, a not-for profit organization investigating the benefits of exercise

Preparation of financial statements for not-for-profit Following is financial data for the Center for Cardio Research, a not-for profit organization investigating the benefits of exercise for heart disease. Given this information, prepare the Statement of Activities and the Statement of Financial Position.

Unrestricted Temporarily Restricted Permanently Restricted
Revenuescontributions $4,238,993 $427,332 $80,553
Revenuesinvestment 183,224 83,772 103,758
Net Assets, beginning of year 3,732,853 2,851,667 783,228
Long-term liabilities $1,383,859
Contributions receivable 1,238,657
Expensessupport 882,937
Net assets released from restriction 337,833
Cash 438,654
Payables 827,938
Expensesprogram 3,658,933
Investments 984,688
Depreciation expense 153,852
PPE, net 7,339,456

Center for Cardio Research Consolidated Statement of Activities
Unrestricted Temporarily Restricted Permanently Restricted Total
Operating revenues and gains:
Contributions:
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year $Answer $Answer $Answer $Answer
Revenues--investment Answer Answer Answer Answer
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year Answer Answer Answer Answer
Total operating revenues and gains Answer Answer Answer Answer
Operating expenses:
Program services:
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year Answer Answer Answer Answer
Supporting services:
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year Answer Answer Answer Answer
Depreciation expense Answer Answer Answer Answer
Total supporting services Answer Answer Answer Answer
Total operating expenses Answer Answer Answer Answer
Change in net assets from operations Answer Answer Answer Answer
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year Answer Answer Answer Answer
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year $Answer $Answer $Answer $Answer

Center for Cardio Research Consolidated Statement of Financial Position
Assets:
Current assets:
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year $Answer
Investments Answer
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year Answer
Total current assets Answer
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year Answer
Total assets $Answer
Liabilities and Net Assets
Current liabilities:
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year $Answer
Long-term liabilities Answer
Total liabilities Answer
Net Assets:
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year Answer
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year Answer
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year Answer
Total net assets Answer
Total liabilities and net assets $Answer

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