Required information [The following information applies to the questions displayed below.] Following is the June 30, 2022, statement of net position for the City of Bay Lake Water Utility Fund. CITY OF BAY LAKE Water Utility Fund Statement of Fund Net Position June 30, 2022 Assets Current assets: Cash and investments $ 1, 775, 515 Accounts receivable (net of $13,370 provision for uncollectible accounts) 306,939 Accrued utility revenue 499,700 Due from General Fund 29, 294 Interest receivable 81,953 Total current assets 2, 693, 401 Restricted assets: Cash 9, 196 Capital assets: Land $1, 781, 529 Buildings (net of $3,421,127 in accumulated depreciation) 5, 216, 129 Machinery and equipment (net of $5, 131,625 in accumulated depreciation) 8, 491, 208 Total capital assets (net) 15, 488, 866 Total Assets 18, 191, 463 Liabilities Current liabilities: Accounts pavable 532.203Interest bairable 131,313 Current portion of longterm debt 395,333 Total current liabilities 1,859,315 Liabilities payable from restricted assets: Customer deposits 9,196 Lang-tern liabilities: Revenue bond payable 11,455,333 Total Liabilities 12,523,299 Net Position Net investment in capital assets 3,686,563 Unrestricted 119311591 5 5,663,254 F Following Is the Inform atlon of the Water UtilIIty Fund for scal year 2923. 'l. The amount In the Accrued Utility Revenue account was reversed. 2. Bllllngs to customers for water usage during fiscal year 2923 totaled $1955.4B1: $199329 of the total was bllled to the General Fund. 3. Cash in the amount oi $262315 was received. The cash was {or interest earned on investments and $34306 in accrued interest 4. Firpenses accrued for the period were management and administration, $3?,541; malntenance and dlstribrrtlon, $298,425: and treatment plant. $214335. 9. Cash receipts [or customer deposits totaled $2.499. Er. Cash collections on customer accounts totaled $3,030.?24. ofwhich $215349 was from the General Fund. II". Cash payments for the period were as follows: Accounts Payable. $1.5lJEBQE; Interest ['whlch Includes the Interest II". Cash payments for the period were as lollows: Accounts Payable. $1,505.995; interest [which includes the interest payable}. $491661; bond prlncipal. $395,000; machinery and equipment, $5193.35: and return of customer deposits. $399. 9. A state grant amounting to $469231 was recelyed to help pay for new watertreatrnent equipment 9. Accounts written off as urrcollectible totaled $9.3?1. 19. The uttllty fund transferred $?S.659 In excess operating Income to the General Fund. 11. Adlustlng entries for the perlod were recorded as follows: depreclatlon on buildings was $296,652 and on machinery and equipment was $354318; the allowance for uncollecdble accounts was increased by $14303; an accrual for unbilled customer receivables was made for $599,143; accrued interest income Iwas $15,625; and accrued Interest expense Iaras 559.940. 12. The Revenue Bond Payable account was adjusted by $399099 to record the current portion ofthe bond. '13. Closing entries and necessary adjustments were made to the net position accounts. 6. Prepare a statement of net position for the Water Utility Fund as of June 30. 2023. Restricted Assets: Capital Assets: Capital Assets: Total Capital Assets 0 Total Assets $ 0 Liabilities Current Liabilities:Liabilities Payable from Restricted Assets: _ Total Liabilities Total Liabilities __ Net Investment In Capital Assets _ Unrestricted __ messenger, __ d. Prepare a statement of cash flows for the Water Utility Fund as of June 30, 2023. (Cash outflows should be indicated by a minus sign.) CITY OF BAYLAKE Water Utility Fund Statement of Cash Flows For the Year Ended June 30, 2023 Cash Flows from Operating Activities: Cash Received from Customers Cash Paid To: Net Cash Provided by Operations 0 Cash Flows from Noncapital Financing Activities: Net Cash Used by Noncapital Financing Activities Cash Flows from Capital and Related Financing Activities:Net Cash Used by Noncapital Financing Activities 0 Cash Flows from Capital and Related Financing Activities: Net Cash Used by Capital and Related Financing Activities Cash Flows from Investing Activities: Net Increase in Cash and Cash Equivalents Cash and Cash Equivalents, July 1, 2022 Cash and Cash Equivalents, June 30, 2023 0 Reconciliation of Cash and Cash Equivalents to the Balance Sheet End of Year Beginning of Year Cash and Cash Equivalents in Current and Accrued AssetsRestricted Cash and Cash Equivalents Total Cash and Cash Equivalents 0 0 Reconciliation of Operating Income to Net Cash Provided by Operations Operating Income Adjustments: Depreciation Expense Uncollectible Accounts Increase in Accounts Receivable Increase in Accrued Utility Revenue Decrease in Due from General Fund Increase in Accounts Payable Net Cash Provided by Operating Activities $ 0