Statement of Revenues, Expenditures, and Changes in Fund Balance. The pre-closing trial balance for the Annette County Public Works Capital Project Fund is provided below. Debits Credits Cash $ 701,000 Grant Receivable 500,000 Investments 800,000 Contract Payable $ 835,000 Contract PayableRetained Percentage 24,000 Reserve for Encumbrances 1,500,000 Revenues 680,000 Encumbrances 1,500,000 Construction Expenditures 3,338,000 Other Financing SourcesProceeds of Bonds 3,800,000 $6,839,000 $6,839,000 Required a. Prepare the June 30, 2011, statement of revenues, expenditures, and changes in fund balance for the capital projects fund. b. Has the capital project been completed? Explain your answer.