Problem 15-22 Financial Statements - Public College. The following balances come from the trial balance of Wilson State College as of the end of the 2017 fiscal year.

Using the below information

Prepare a statement of revenues, expenses, and changes in net position for the year ended June 30, 2017, in good form. See Illustrations 15-2 and 7-6; however, display expenses using functional classifications as shown in Illustration 15-6.

Prepare a statement of net position as of June 30, 2017, in good form. For the period, net position restricted for capital projects increased by $3,000, and net position restricted for debt service increased by $150; all bonded debt relates to capital assets. See Illustration 15-1.

Prepare a statement of cash flows for the year ended June 30, 2017. Information on changes in assets and liabilities is as follows: Accounts Receivable (net) increased by $2,551; Due from State decreased by $14,842; Inventories increased by $23; Accounts Payable and Accrued Liabilities increased by $1,962; and Unearned Revenue decreased by $1,763. See Illustration 15-3

WILSON STATE COLLEGE Pre-closing Trial Balance June 30, 2017 (000s omitted)
	Debits	Credits
Cash and Cash Equivalents	$3,278
Investments	$29,387
Accounts Receivable	$1,957
Allowance for Uncollectible Receivables		$137
Due from State	$79,626
Inventories	$869
Cash and Cash Equivalents--Restricted	$6,716
Investments--Restricted	$71,883
Depreciable Capital Assets	$184,620
Accumulated Depreciation		$28,850
Nondepreciable Assets	$89,481
Accounts Payable		$2,306
Accrued Liabilities		$2,039
Unearned Revenue		$13,789
Compensated Absences -Current Portion		$1,538
Bonds Payable		$92,116
Compensated Absences		$37,662
Net Position--Net Investment in Capital Assets		$158,715
Net Position--Restricted for Debt Service--Expendable		$1,157
Net Position--Restricted for Capital Projects--Expendable		$49,272
Net Position Restricted for Endowment--Nonexpendable		$39,959
Net Position--Unrestricted		$36,559
Tuition and Fees		$30,095
Tuition and Fees Discount and Allowances	$7,565
Grants and Contracts Revenue		$18,196
Auxiliary Enterprise Sales		$14,595
Investment Income		$1,745
State Appropriations		$44,894
Capital Appropriations		$12,785
Institutional Support Expenses	$26,268
Academic Support Expenses	$58,940
Scholarships and Fellowships Expense	$7,664
Depreciation Expense	$5,580
Interest Expense	$378
Auxiliary Enterprise Expenses	$12,197
Totals	$586,409	$586,406
Information on Cash and Cash Equivalents Activity
Beginning Cash Balance	$8,067
Received Tuition and Fees (net)	$23,609
Received Grants and Contracts	$12,940
Received from Auxiliary Enterprises	$13,765
Payments to Employees	$58,220
Payments to Vendors	$21,711
Payments to Students for Scholarships and Fellowships	$7,664
Received State Appropriations	39,894
Received Capital Appropriations	20,540
Purchase of Capital Assets	20,634
Interest Paid on Debt	2,095
Interest Income	1,503