The City of Bemard starts the year of 2017 with the following unrestricted amounts in its general fund cash of $42.250 and Investments of $80,250. In addition, it holds a small building bought on January 1, 2016, for general government purposes for $303,000 and related long-term debt of $242,400. The building is being deprecated on the straight-line method over 10 years. The Interest rate is 10 percent. The general fund has four separate functions: general government, public safety, public works, and health and sanitation. Other Information includes the following: $598.000 192, see 23,00 16,900 9,950 4,200 40,100 8.6ee 32,700 221,80 97,ese 135, see 123,000 112,250 73,250 27.ee Receipts: Property taxes Sales taxes Dividend income Charges for general government services Charges for public safety services Charges for public works Charges for health and Sanitation services Charges for landfill Grant to be used for salaries for health workers (no eligibility requirements) Issued long-term note payable Sold above Investments Receivables at year-end: Property taxes (518,880 is expected to be uncollectible) Payments: Salary: General government Public Safety Public works Health and sanitation call from grant) Utilities: General government Public safety Public works Health and sanitation Insurance: General government Public safety Public works (all prepaid as of the end of the year) Health and sanitation Miscellaneous General government Public safety Public Works Health and Sanitation Interest on previous debt Principal payment on previous debt Interest on new debt Building (public works) Equipment public safety) Public works supplies (3 still held) Investments Ordered but not received: Equipment Supplies Due at end of year Salaries: General government Public sately Public works 12,90 19,85e 13,85e 5.lee 26.5ee 20,400 6.300 6,30 13.100 12,700 9.800 11.ee 24. 240 11, see 19.89e 216, see 1e5.ce 28.400 147,000 28.250 11,250 21,6ee 17.ee 5,700 On the last day of the year, the city borrowed $69.000 from a local bank and used that money to buy a truck. The first payment on the loan (plus interest will be made at the end of the next year The city started a landfill this year that it is recording within its general fund. It is included as a public works function. Closure costs today would be $286,500 although the landfill is not expected to be filled for nine more years. The city has incurred no costs to date although the landfill is now 15 percent filled. For the equipment and supplies that have been ordered but not yet received the City Council (the highest decision-making body in the government has voted to honor the commitment when the items are received. The new building is being depreciated over 20 years using the straight-line method and no salvage value, whereas depreciation of the equipment is similar except that its life is only 10 years. Assume the city records a full year's depreciation in the year of acquisition The investments are valued at $154,500 at year-end. 3-1. Prepare a statement of activities for governmental activities for December 30 2017 and the year then ended a-2. Prepare a statement of net position for governmental activities for December 31, 2017 and the year then ended. 6.1. Prepare a statement of revenues, expenditures, and other changes in fund balances for the General Fund as of December 31, 2017, and the year then ended. Assume that the purchases method is being applied b-2. Prepare a balance sheet for the General Fund as of December 31, 2017, and the year then ended. Assume that the purchases method is being applied Complete this question by entering your answers in the tabs below. RA1 Rig 3 Hei Red Dreamer Complete this question by entering your answers in the tabs below. Req A1 Req A2 Reg B1 Req B2 Prepare a statement of activities for governmental activities for December 31, 2017, and the year then ended. deducted should be indicated by a minus sign.) CITY OF BERNARD Statement of Activities For Year Ended December 31, 2017 Program Revenues Charges for Grants and Services Contributions Net (Expense) Revenue and Changes in Net Position Governmental Total Activities Expenses Functions Programs Governmental activities: General government Public safety Health and sanitation Interest on debt 5 0$ 05 0 $ 0 $ Total governmental activities General revenues Property taxes Gain on sale of investments S $ 0 Total general revenues Change in ne position Change during 2017 et position beginning fet positiofending GE 0 $ S Os Reg A2 > Prepare a statement of net position for governmental activities for December 31, 2017, and the year then ended. CITY OF BERNARD Statement of Net Position December 31, 2017 Governmental Activities Totals Assets: Current assets Total current assets Capital assets $ OS $ Total assets Liabilities Current liabilities 03 0 Noncurrent liabilities: Total abilities Net position 5 0 $ Totalt position Statement of Revenues Expenditures, and Other Changes in Fund Balances - Governmental Funds For Year Ended December 31, 2017 General Fund Revenues S Total Expenditures: Current Debt service Capital outlay Total expenditures Excess (deficiency of revenues over expenses Other financing sources $ $ 0 0 Total other financing sources Net changes in fund balance 0 Reg A1 Req A2 Reg B1 Reg B2 Prepare a balance sheet for the General Fund as of December 31, 2017, and the year then ende method is being applied. CITY OF BERNARD Balance Sheet Governmental Funds December 31, 2017 General Fund Assets $ 0 Total assets Liabilities and fund balances: Liabilities: Fund balances Total liabilities and fund balance $ 5 0 0 Prepare a statement of net position for governmental activities for December 31, 2017, and the year then ended. CITY OF BERNARD Statement of Net Position December 31, 2017 Governmental Activities Totals Assets: Current assets Total current assets Capital assets $ OS $ Total assets Liabilities Current liabilities 03 0 Noncurrent liabilities: Total abilities Net position 5 0 $ Totalt position Statement of Revenues Expenditures, and Other Changes in Fund Balances - Governmental Funds For Year Ended December 31, 2017 General Fund Revenues S Total Expenditures: Current Debt service Capital outlay Total expenditures Excess (deficiency of revenues over expenses Other financing sources $ $ 0 0 Total other financing sources Net changes in fund balance 0 Reg A1 Req A2 Reg B1 Reg B2 Prepare a balance sheet for the General Fund as of December 31, 2017, and the year then ende method is being applied. CITY OF BERNARD Balance Sheet Governmental Funds December 31, 2017 General Fund Assets $ 0 Total assets Liabilities and fund balances: Liabilities: Fund balances Total liabilities and fund balance $ 5 0 0