Required only This One Part 1 ( Net cash provided by Operating Activity )

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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. $ 1,775,515 306,939 499,700 29, 294 81,953 2,693,401 9,196 CITY OF BAY LAKE Water Utility Fund Statement of Fund Net Position June 30, 2022 Assets Current assets: Cash and investments Accounts receivable (net of $13,370 provision for uncollectible accounts) Accrued utility revenue Due from General Fund Interest receivable Total current assets Restricted assets: Cash Capital assets: Land Buildings (net of $3,421,127 in accumulated depreciation) Machinery and equipment (net of $5,131,625 in accumulated depreciation) Total capital assets (net) Total Assets Liabilities Current liabilities: Accounts payable Interest payable Current portion of long-term debt Total current liabilities Liabilities payable from restricted assets: Customer deposits Long-term liabilities: Revenue bond payable Total Liabilities Net Position Net investment in capital assets Unrestricted $1,781,529 5, 216, 129 8,491,208 15,488,866 18,191,463 532,203 131, 810 395,000 1,059,013 9,196 11,455,000 12,523,209 3,686,563 1,981,691 $ 5,668,254 Following is the information of the Water Utility Fund for fiscal year 2023. 1. The amount in the Accrued Utility Revenue account was reversed. 2. Billings to customers for water usage during fiscal year 2023 totaled $3,066,481; $199,320 of the total was billed to the General Fund. 3. Cash in the amount of $267.315 was received. The cash was for interest earned on investments and $84,306 in accrued interest. 4. Expenses accrued for the period were management and administration, $370,541; maintenance and distribution, $708,476, and treatment plant, $714,785. 5. Cash receipts for customer deposits totaled $2,499. 6. Cash collections on customer accounts totaled $3.030,724, of which $215,749 was from the General Fund. 7. Cash payments for the period were as follows: Accounts Payable, $1,505,995; interest (which includes the interest 7. Cash payments for the period were as follows: Accounts Payable, $1.505.995; interest (which includes the interest payable), $407,661; bond principal, $395,000; machinery and equipment, $576,135, and return of customer deposits, $899. 8. A state grant amounting to $468,231 was received to help pay for new water treatment equipment. 9. Accounts written off as uncollectible totaled $9.871. 10. The utility fund transferred $788,656 in excess operating income to the General Fund. 11. Adjusting entries for the period were recorded as follows: depreciation on buildings was $236,652 and on machinery and equipment was $354,978; the allowance for uncollectible accounts was increased by $14,703; an accrual for unbilled customer receivables was made for $690,143; accrued interest income was $15,625; and accrued Interest expense was $60,540. 12. The Revenue Bond Payable account was adjusted by $395.000 to record the current portion of the bond. 13. Closing entries and necessary adjustments were made to the net position accounts. 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