Problem #2 - Fund Financial Statements The following selected balances are for the City of Gotham general fund at end of year June 30, 2020. The accounts shown have not yet been closed. Expenditures for Equipment 100,000 Revenues from Penalties and Fines 55,000 Fund Balance (July 1, 2019) 5,000 Allowance for Uncollectible Taxes 30,000 Tax Anticipation Notes Payable 80,000 Revenues from Property Taxes Transfer Out to Debt Service Fund Expenditures- General Government 2,400,000 50,000 2,255,000 Sale of Equipment 14,500 Cash ? Taxes Receivable -Delinquent 175,000 Grant from Federal Government 20,000 Vouchers Payable 120,000 Supplies 40,000 Additional Information: On June 30, 2020, there were open purchase orders that totaled $30,000 and the authority to honor the purchase orders does not lapse. Required: 1. Prepare, in good form, the Statement of Revenues, Expenditures and Changes in Fund Balance. 2. Assume the Fund Balance after closing is $200,000 (it's obviously not, but assume it is for this requirement). Prepare, in good form, the Balance Sheet for fiscal year ending June 30, 2020.