Prepare a statement of functional expenses for the following entity using the following information.

Charlie Counseling Center was incorporated as a not for profit entity 10 years ago. Its adjusted trial balance as of June 30, 2018 is:

Charlie Counseling Center
Adjusted (Pre-Closing) Trial Balance
as of June 30, 2018
	Debit	Credit
Cash and cash equivalents	126,500
Pledges receivable	41,000
Estimated uncollectible pledges		4,100
Inventory - supplies	2,800
Long-term investments, at fair value	178,000
Capital assets, net of accumulated depreciation	90,000
Accounts payable		20,520
Unrestricted net assets		196,500
Donor restricted net assets		190,500
Contributions - unrestricted		348,820
Contributions - restricted		38,100
Investment Income - Unrestricted		9,200
Net assets released from restrictions - Donor Restricted	22,000
Net assets released from restrictions - Unrestricted		22,000
Salaries and Fringe Benefits Expense	288,410
Occupancy and Utility Expense	38,400
Supplies Expense	6,940
Printing and Publishing Expense	4,190
Telephone and Postage Expense	3,500
Unrealized Gain on Investments		2,000
Depreciation Expense	30,000
Totals	831,740	831,740

Salaries and fringe benefits were allocated to program services and supporting services in the following percentages:

Counseling services 40

Professional training 20

Community Service 10

Management and General 20

Fund Raising 10.

Occupancy and utility, supplies, printing and publishing, and telephone and postage expenses were allocated to the programs in the same manner as salaries and fringe benefits. Depreciation expense was equally split among all five functional expense categories.

Prepare a statement of functional expenses from the information provided. Tell me if the program expense ratio is good relative to Charity Navigator's recommended 80% threshold.