Required information [The following information applies to the questions displayed below.) The following is the preclosing trial balance for Allen University as of June 30, 2020. Additional information related to net assets and the statement of cash flows is also provided. ALLEN UNIVERSITY Preclosing Trial Balance June 30, 2020 Credits Debits $ 517,620 3,207,000 373,109 $ 75,740 223,420 79,140 2,200,060 659,890 103, 190 38,740 18,140 64,170 817,000 3,292,890 1,361,300 439,800 Cash and Cash Equivalents Investments Tuition and Fees Receivable Allowance for Doubtful Accounts Pledges Receivable Allowance for Doubtful Pledges Property, Plant, and Equipment Accumulated Depreciation Accounts Payable Accrued Liabilities Deposits Held in Custody for Others Unearned Revenue Bonds Payable Net Assets-Without Donor Restrictions Net Assets-With Donor Restrictions Net Assets Released from Restrictions with Donor Restrictions Net Assets Released from Restrictions-Without Donor Restrictions Tuition and Fees Tuition and Fees Discount and Allowances Contributions-Without Donor Restrictions Contributions-With Donor Restrictions Grants and Contracts-With Donor Restrictions Investment Income-Without Donor Restrictions Investment Income-With Donor Restrictions Other Revenue Auxiliary Enterprise Sales and Services Gain on Sale of Investments Unrealized Gain on Investments Instruction Expense Research Expense Academic Support Expense Student Services Expense Institutional Support Expense Auxiliary Enterprise Expenses Total 439,800 1,291,740 327,300 311,200 328,930 325,020 51,430 30,100 13,400 155,300 70,700 230,330 1,053,830 581,600 249,660 200,600 215,360 168,800 $9,758,150 $9,758, 150 Additional Information Net assets released from donor restrictions totaled $439,800. The gain resulting from sale of investments was unrestricted. Twenty percent of the unrealized gain is related to net assets restricted for programs, with the remainder related to net assets without donor restrictions. Additional information is as follows: The balance in cash and cash equivalents as of July 1, 2019, was $642,300. Tuition and Fees Receivable increased by $11,280. Pledges Receivable decreased by $1,730. Allowance for Doubtful Accounts was increased by $850 (the bad debt was netted against Tuition and Fees). Accounts Payable decreased by $3,220. Accrued Liabilities decreased by $1,250. Unearned Revenue increased by $6,930. Depreciation Expense was $33,590. Cash of $118,000 was used to retire bonds Investments were sold for $1,770,000 (at a gain of $70,700) and others were purchased for $1,475,000 Net assets without donor restrictions were used to purchase equipment at a cost of $39,000. Required Prepare a statement of stes for the year ended June 30, 2020. Amounts to be deducted should be indicated with minu sign.) ALLEN UNIVERSITY statement of Activities Year Ended June 30, 2020 without Door With Donor Total Total Revenue and Gains Expenses and LG Educational and Carl Expo Total Educational and General Expense Total Expenses and Loss Total Change in Not Assets Net Assos Beginning of the Year Net Act End of the Year SOSOS