Steiner Colleges statement of financial position for the year ended June 30, 2016, is presented here. Steiner is a private college.

STEINER COLLEGE
Statement of Financial Position
June 30, 2016
(amounts in thousands)
Assets
Cash and cash equivalents				$	731
Short-term investments					7,665
Tuition and fees receivable (net of doubtful accounts of $11)					228
Pledges receivable (net of doubtful accounts of $278)					5,870
Prepaid assets					1,361
Property, plant and equipment (net of accumulated depreciation of $104,200)					281,403
Investments (at fair value, cost of $164,200)					158,200
Total assets				$	455,458
Liabilities and Net Assets
Liabilities:
Accounts payable and accrued liabilities				$	21,090
Deposits held in custody for others					698
Unearned revenue					897
Bonds payable					99,000
Total liabilities					121,685
Net Assets:
Unrestricted	$	103,950
Temporarily restricted		33,010
Permanently restricted		196,813
Total net assets					333,773
Total liabilities and net assets				$	455,458

The following transaction information (amounts in thousands) pertains to the year ended June 30, 2017.

1.	During the year charges for tuition and fees were $244,460; scholarships were $16,280; And tuition waivers for scholastic achievement were $5,070. After payment was received tuition refunds of $11,160 were given. Tuition waiver of $17,250 for students serving as teaching assistants for instruction were accrued.
2.	The college received unrestricted cash contributions of $2,040, pledges to be collected in 2018 of $559, and cash contributions to the endowments of $332. It also collected $817 of Pledges Receivable that were unrestricted.
3.	Collections on Tuition and Fees Receivable totaled $222,570.
4.	Net deposits returned to students totaled $20.
5.	Expenses were incurred for:

Instruction	$	86,080.
Academic support		23,250.
Student services		37,670.
Institutional support		28,450.

	Related to the expenses incurred: prepaid assets of $532 were used, $4,775 of the expenses were accrued, and the remaining expenses were paid. Expenses incurred resulted in the release of $7,300 in temporarily restricted net assets.
6.	The ending balance in Accounts Payable and Accrued Liabilities was 1,905.
7.	Investment earnings received for the period were $3,920, of which $2,040 was temporarily restricted.
8.	Adjusting entries for the period were made to increase Allowance for Doubtful Accounts by $13, to record depreciation expense of $26,370 (charged 70 percent to instruction and 30 percent to academic support), to adjust tuition revenue for an increase in unearned revenue of $16, and to recognize an increase in fair value of investments of $4,650 ($770 was related to temporarily restricted net assets, $1,560 was related to permanently restricted net assets, the remainder was related to unrestricted net assets).
9.	Nominal accounts were closed.
a-1.	Prepare journal entries to record the foregoing transactions for the year ended June 30, 2017. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands.)

a-2.	Prepare closing entry for the year ended June 30, 2017. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands.)

b.	Prepare a statement of activities for the year ended June 30, 2017. (Enter your answers in thousands. Negative amounts should be indicated by a minus sign.)

c.	Prepare a statement of financial position for the year ended June 30, 2017. (Enter your answers in thousands.)