Required information The foowing information appies to the questions displayed below. The Kare Counseling Center was Incorporated as a not-for-profit voluntary health and welfare organ zation 0 years ago. its adjusted trial balance as of June 30, 2020, tollows. Debits $112,100 Credits Cash Pledges Receivable without Donor Restrictions Estimated Uncollectible Pledges Inventory Investment Furniture and Equipment Accumulated Depreciation Furniture and Equipment 42,600 5,700 4,400 194,000 226,000 128,000 Payable 22,120 Net Asseta Without Donor Restrictions Net Assets With Donor Restrictions- Programs Net Assets With Donor Restrictions Permanent Endowment Contributions Without Donor Restrictions Contributions- with Donor Restrictiona Programs Investment Income without Donor Restrictions Net Asseta Released from Restrictiona With Donor Restrictions Net Asseta Released from Restrictiona Without Donor Reatrictions Salaries and Fringe Benefit Expense Occupancy and utility Expense Supplies Expense Printing and Publishing Expense Telephone and Postage Expense Unrealized Gain on Investments Depreciation Expense 198,100 52,100 156,000 350,420 39,700 10,800 38,000 38,000 290,010 40,000 B,540 5,790 5,100 3,600 38,000 Totals $1,004,540 $1,004,540 1 Salaries and fringe bene its were allocated to program services and supporting services in the following percentages: counseling services, 40 percent professional training, 20 percent community service, 10 percent; management and general, 20 percent; and fund-raising, 10 percent. Occupancy and utility supplies, printing and publishing, and telephone and postage expenses were allocated to the programs in the same manner as salaries and fringe benefits. Depreclation expense was divided equally among all five functional expense categories. 2. The organization had $173,314 of cash on hand at the beginning of the year. During the year, the center recelved cash from contributors: $304,400 that was unrestricted and $39,700 that was restricted for the purchase of equipment for the center. It had $10,800 of Income earned and receved on long-term investments. The center spent cash of $290,010 on salaries and tringe benefits, $38,000 on the purchase of equipment for the center, and $88,104 for operating expenses. Other pertinent Intormation follows: net pledges recelvable Increased $4,200, Inventory Increased $2,600, accounts payable decreased $107,594, and there were no salaries payable at the beginning of the year a. Prepare a statement of financial position as of June 30, 2020. Required a. Prepare a statement of financial position as of June 30, 2020. Statement of Financial Position June 3 Assets 112,100 36,900 4,400 194,000 98,000 s Receivable urniture and E Total Assets Accounts Payable Total Liabilities 445,400 Liabilitles 22,120 Net Assets thout Donor Restrictions th Donor Restrictions-Programs th Donor Restrictions Permanent Endowment 156,000 Total Net Assets Total 156,000 178,120 s and Net Assets b. Prepare a statement of expenses by nature and function for the year ended June 30, 2020. KARE COUNSELING CENTER Statement of Expenses by Nature and Function Year Ended June 30, 2020 Program Services Supporting Services All Services Counseling Professional Community Services Training Services Management Fund- and General Raising Total Total Total Salaries and Fringe Benefit Expense Occupancy and Utility Expense Printing and Publishing Expense Total Expenses c. Prepare a statement of activities for the year ended June 30, 2020. (Amounts to be deducted should be indicated with a minus sign.) KARE COUNSELING CENTER Statement of Activities Year Ended June 30, 2020 Without Donor With Donor Total Restrictions Restrictions Revenues, Gains, and Other Support: Total Revenues, Gains, and Other Support Expenses and Losses Program Services: Total Program Expenses Support Expenses Total Support Expenses Total Expenses and Losses Change in Net Assets Net Assets, July 1, 2019 Net Assets, June 30, 2020 d. Prepare a statement of cash flows for the year ended June 30, 2020. (List of cash outflows should be indicated by a minus sign.) KARE COUNSELING CENTER Statement of Cash Flows Year Ended June 30, 2020 Cash Flows from Operating Activities: Net Cash Used for Operating Activities Cash Flows from Investing Activities Cash Flows from Financing Activities Proceeds from Contributions Restricted for. Net Increase in Cash Cash, July 1.2019 Cash, June 30, 2020 Reconcillation of Changes in Net Assets to Net Cash Used for Operating Activities Adjustments to Reconcile Changes in Net Assets to Net Cash Provided by Operating Activities: Net Cash Used for Operating Activities