Required information The foowing information appies to the questions displayed below. As of December 31, 2019, Sandy Beach had $8,300,000 in 5.0O percent serial bonds outstanding. Cash of $443,000 is the debt service fund's only asset as of December 31, 2019, and there are no liabillities. The serial bonds pay Interest semiannually on January 1 and July 1, with $500,000 In bonds being retired on each Interest payment date. Resources for payment of interest are transferred from the General Fund, and the debt service fund levies property taxes in an amount sufricient to cover principal payments. b. Prepare a statement of revenues, expend tures, and changes In fund balances for the debt service fund for the year ended December 31, 2020. Debt Service Fund Statement of Revenues, Expenditures and Changes in Fund Balance Total Expenditures Excess of Revenues Expenditures Other F Sources (Uses Increase in Fund Balance Fund Balance, J Fund Balance, December 31, 2020 1, 2020 Required information The foowing information appies to the questions displayed below. As of December 31, 2019, Sandy Beach had $8,300,000 in 5.0O percent serial bonds outstanding. Cash of $443,000 is the debt service fund's only asset as of December 31, 2019, and there are no liabillities. The serial bonds pay Interest semiannually on January 1 and July 1, with $500,000 In bonds being retired on each Interest payment date. Resources for payment of interest are transferred from the General Fund, and the debt service fund levies property taxes in an amount sufricient to cover principal payments. b. Prepare a statement of revenues, expend tures, and changes In fund balances for the debt service fund for the year ended December 31, 2020. Debt Service Fund Statement of Revenues, Expenditures and Changes in Fund Balance Total Expenditures Excess of Revenues Expenditures Other F Sources (Uses Increase in Fund Balance Fund Balance, J Fund Balance, December 31, 2020 1, 2020