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The following trial balance is taken from the General Fund of the City of Jennings for the year ending December 31, 2020. Accounts Payable Cash Contracts Payable Unavailable Revenues Due from Capital Projects Funds Due to Debt Service Funds Expenditures Fund Balance-Unassigned Investments Revenues Other Financing Sources-Bond Proceeds Other Financing Sources-Transfers In Other Financing Uses-Transfers Out Taxes Receivable Vouchers Payable Totals Debit Credit $ 90,000 $ 30,000 90,000 40,000 60,000 40,000 530,000 170,000 410,000 760,000 300,000 50,000 470,000 220,000 180,000 $1,720,000 $1,720,000 a. Prepare a condensed statement of revenues, expenditures, and other changes in fund balance. b. Prepare a condensed balance sheet. REV EX AND FUND BAL BALANCE SHEET Prepare a condensed statement of revenues, expenditures, and other chang should be indicated with a minus sign.) CITY OF JENNINGS GENERAL FUND Statement of Revenues, Expenditures, and Other Changes in Fund Balance (Condensed) Year Ending December 31, 2020 Revenues $ 760,000 Expenditures (530,000) Excess of revenues over expenditures $ 230,000 Other financing sources (uses): Bond proceeds $ 300,000 Transfers in 50,000 Transfers out (470,000) Total other financing sources and uses Change in fund balance Fund balance, beginning Fund balance, ending (120,000) $ 110,000 170,000 $ 280,000 December 31, 2020 Assets: Cash Investments Taxes receivable Due from capital projects fund $ 30,000 410,000 220,000 60,000 O $ Total assets 720,000 Liabilities: Accounts payable Vouchers payable Contracts payable Due to debt service fund >>> $ 90,000 180,000 90,000 40,000 40,000 Total liabilities Deferred inflows of resources: 440,000 0 Total deferred inflows of resources Fund balances: Unassigned Total fund balance 0 Total liabilities, deferred inflows of resources, and fund balances 440,000