The citizens of Spencer County approved the issuance of $2,000,000 in 6 percent general obligation bonds to finance the construction of a courthouse annex. A capital projects fund was established for that purpose. The preclosing trial balance of the courthouse annex capital project fund follows:

Trial BalanceDecember 31, 2015	Debits	Credits
Cash	$900,000
Contract payable		$ 550,000
Due from state government	200,000
Encumbrances	85,000
Expenditurescapital	1,850,000
Intergovernmental grant		400,000
OFS: premium on bonds		45,000
OFS: proceeds sale of bonds		2,000,000
Budgetary fund balanceReserve for encumbrances		85,000
Transfer out	45,000
	$3,080,000	$3,080,000

a. Prepare any closing entries necessary at year-end.

b. Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the courthouse annex capital project fund.

c. Prepare a balance sheet for the Courthouse Annex Capital Project Fund, assuming all unexpended resources are restricted to construction of the courthouse annex.