The citizens of Spencer County approved the issuance of $2,002,000 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, 2017	Debits				Credits
Cash	$	903,000
Contract payable					$	548,000
Due from state government		187,000
Encumbrances		103,000
Expenditurescapital		1,849,000
Intergovernmental grant						389,000
OFS: premium on bonds						53,000
OFS: proceeds sale of bonds						2,002,000
Budgetary fund balance Reserve for encumbrances						103,000
OFU: Transfer out		53,000
	$	3,095,000			$	3,095,000

Required: 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.