Prepare a statement of financial position as of June 30, 2017. The question is only for the TWO red boxes.

[The following information applies to the questions displayed below.] The Kare Counseling Center was incorporated as a not-for-profit voluntary health and welfare organization 10 years ago. Its adjusted trial balance as of June 30, 2017, follows. Debits Credits $124,700 41,200 Cash Pledges Receivable-Unrestricted Estimated Uncollectible Pledges Inventory Investments Furniture and Equipment Accumulated Depreciation-Furniture and Equipment Accounts Payable Unrestricted Net Assets Temporarily Restricted Net Assets Permanently Restricted Net Assets Contributions-Unrestricted Contributions-Temporarily Restrictec Investment Income-Unrestricted Net Assets Released from Restrictions-Temporarily Restricted24,000 Net Assets Released from Restrictions-Unrestricted Salaries and Fringe Benefit Expense Occupancy and Utility Expense Supplies Expense Printing and Publishing Expense Telephone and Postage Expense Unrealized Gain on Investments Depreciation Expense $ 4,300 3,000 180,000 212,000 121,000 20,720 196,700 50,700 142,000 349,020 38,300 9,400 24,000 288,610 38,600 7140 4,390 3,700 2,200 31,000 Totals $958,340 $958,340 1. Salaries and fringe benefits were allocated to program services and supporting services in the following percentages: counseling services, 40 percent; professional training, 20 percent; community service, 10 percent; management and general, 20 percent; and fund-raising, 10 percent. Occupancy and utility, supplies, printing and publishing, and telephone and postage expense were allocated to the programs in the same manner as salaries and fringe benefits. Depreciation expense was divided equally among all five functional expense categories. 2. The organization had $166,314 of cash on hand at the beginning of the year. During the year, the center received cash from contributors: $310,000 that was unrestricted and $38,300 that was restricted for the purchase of equipment for the center. It had $9,400 of income earned and received on long-term investments. The center spent cash of $288,610 on salaries and fringe benefits, $24,000 on the purchase of equipment for the center, and $86,704 for operating expenses. Other pertinent information follows: net pledges receivable increased $5,600, inventory increased $1,200, accounts payable decreased $103,394, and there were no salaries payable at the beginning of the year Required a. Prepare a statement of financial position as of June 30, 2017. Answer is complete but not entirely correct. KARE COUNSELING CENTER Statement of Financial Position June 30, 2017 Assets Cash Pledges Receivable Inventory Investments Furniture and Equipment $ 124,700 36,900 3,000 180,000 91,000 Total Assets $ 435,600 Liabilities Accounts Payable $ 20,720 Total Liabilities 20,720 Net Assets Unrestricted Temporarily Restricted Permanently Restricted 196,700 50,700 142,000 389,400 $ 410,120 Total Net Assets Total Liabilities and Net Assets