Task: 2 The Muscat City for the year 2019 maintain two funds: a General Fund accounts for its unrestricted resources and general operations, and a Proprietary funds for internal services and State Enterprises. The Muscat City has provided the following financial information for the year 2019. The City had decided to levy special tax from the public called Infrastructure Development Fund estimated at OMR 1.2 million and the actual amount received so far is OMR 0.8 million . City allotted OMR 0.3 million to train police officers abroad, for which the fund has been restricted and transferred to the specific account. The City issued OMR 6.25 million in long-term Bonds for operational expenditure to cover up the deficit due to the unexpected fall in the prices of crude oil. The proceeds must be used for the day to day expenditure of the government.As the Citys sewage system is outdated and needs to be improved, City requested the national government for financial assistance in the form of grant. The national government approved a grant of OMR 2.8million for the purpose. To improve Citys operational efficiency and services to the society, it has been decided to construct a purpose built building to accommodate its main office. As it involves huge amount of OMR 3 million, City has decided to borrow the fund from the public and financial institutions by issuing bonds in the local and international market. Using the bond issue proceeds, the City signed an agreement with one of the leading construction company to construct the main office. The cost of the construction amounts to OMR 2.60.The City also transferred $ 0.05 million to Debt Service Fund as the first payment towards the principal and interest of its bonds issued for operational expenditure. The City signed a contract for OMR 2.2million to improve the sewage system of the city. The City decided to set up its own printing and publishing department by investing OMR 0.5 million but the services will be available only for government units, but not free of cost. City government also transferred 0.75 million as an investment for automation and diversification of the services of Public Authority for Water and Electricity. The printing and publishing department billed the City for the services and goods delivered OMR 0.15Payment of salary and other allowances by the City government to the government employees OMR 1.25 million Transferred OMR 0.4 million to a fund which will remain intact except the revenue and interest accrued on it. Reported the completion of a portion of the sewage work , duly approved by the City.and payment has been made OMR 1.75 million Pass necessary Journal entries in the books of Muscat City under the relevant funds separately both governmental funds and proprietary funds ( 5 marks ) Using the information available in task 2, prepare: (only governmental fund) A statement of Revenues, Expenditure and changes in Fund Balance of Muscat City for the year 2019.