Problem 2: Government-wide statement of net position The following financial information is for the Village of...

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Problem 2: Government-wide statement of net position The following financial information is for the Village of Pine Hill for the year ended December 31, 2021. The Village has only one enterprise fund. Village of Pine Hill Statement of Net Position Water Utility Enterprise Fund At December 31, 2021 Assets Current assets Cash Accounts receivable (net) Due from other funds Materials and supplies Total current assets Noncurrent assets Restricted assets Capital assets, net of accumulated depreciation Total noncurrent assets Total assets Liabilities Current liabilities Accounts payable $ 27,000 97,500 8,000 50,000 $ 182,500 $ 30,000 1,020,000 $ 1,050,000 $ 1,232,500 Interest payable Current portion of revenue bonds Total current liabilities Noncurrent liabilities: Revenue bonds Total liabilities Net Position Invested in capital assets, net of related debt Restricted for debt service Unrestricted Total net position $ 70,000 10,000 100,000 $ 180,000 500,000 $680,000 420,000 30,000 102,500 $ 552,500 Problem 2: Government-wide statement of net position The following financial information is for the Village of Pine Hill for the year ended December 31, 2021. The Village has only one enterprise fund. Village of Pine Hill Statement of Net Position Water Utility Enterprise Fund At December 31, 2021 Assets Current assets Cash Accounts receivable (net) Due from other funds Materials and supplies Total current assets Noncurrent assets Restricted assets Capital assets, net of accumulated depreciation Total noncurrent assets Total assets Liabilities Current liabilities Accounts payable $ 27,000 97,500 8,000 50,000 $ 182,500 $ 30,000 1,020,000 $ 1,050,000 $ 1,232,500 Interest payable Current portion of revenue bonds Total current liabilities Noncurrent liabilities: Revenue bonds Total liabilities Net Position Invested in capital assets, net of related debt Restricted for debt service Unrestricted Total net position $ 70,000 10,000 100,000 $ 180,000 500,000 $680,000 420,000 30,000 102,500 $ 552,500