The City of Ashville operates an internal service fund to provide garage space and repairs for all city-owned-and-operated vehicles. The Central Garage Fund's preclosing trial balance for the current fiscal year is as follows: Credits Debits $110,000 9,000 90,000 50,000 250,000 Cash Due from Other Funds Inventory of Supplies Land Building Allowance for Depreciation-Building Machinery and Equipment Allowance for Depreciation-Machinery and Equipment Vouchers Payable Net Position-Net Investment in Capital Assets Net Position-Unrestricted $ 20,000 65,000 12,000 31,000 333,000 178,000 $574,000 $574,000 The following information, not yet reflected in the preclosing figures above, applies to the current fiscal year: 1. Supplies were purchased on account for $92,000; the perpetual inventory method is used. 2. The cost of supplies used during the year was $110,000. A physical count taken as of that date showed materials and supplies on hand totaled $72,000 at cost. 3. Salaries and wages paid to employees totaled $235,000, including related costs. 4. Billings totaling $30,000 were received from the enterprise fund for utility charges. The Central Garage Fund paid $27,000 of the amount owed. (At the government-wide level, record the payable amount as Internal Balances.) 5. Depreciation of the building was recorded in the amount of $10,000; depreciation of the machinery and equipment amounted to $9,000. 6. Billings to other departments for services provided to them were as follows: General Fund Special Revenue Fund $ 270,000 127,000 7. Unpaid interfund receivable balances were as follows: General Fund Special Revenue Fund Beginning of Year $2,500 6,500 End of Year $3,000 9,000 8. Vouchers payable at year-end were $16,000. 9. Closing entries were prepared for the Central Garage Fund (ignore government-wide closing entry). b. Prepare a statement of revenues, expenses, and changes in fund net position for the Central Garage Fund for the period. CITY OF A SHVILLE Central Garage Fund Statement of Revenues, Expenses, and Changes in Fund Net Position For Current Fiscal Year Billing to Departments Operating Expenses: Total Operating Expenses Net Position, Beginning Net Position, Ending