The City of Bernard starts the year of 2017 with the following unrestricted amounts in its general fund: cash of $26,250 and investments of $86,500. In addition, it holds a small building bought on January 1, 2016, for general government purposes for $315,000 and related long-term debt of $252,000. The building is being depreciated 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: Receipts: Property taxes $648,000Sales taxes 99,300Dividend income 29,000Charges for general government services 23,100Charges for public safety services 11,950Charges for public works 4,500Charges for health and sanitation services 34,700Charges for landfill 10,950Grant to be used for salaries for health workers (no eligibility requirements) 25,600Issued long-term note payable 257,000Sold above investments 102,800Receivables at year-end: Property taxes ($11,800 is expected to be uncollectible) 142,000Payments: Salary: General government 132,500Public safety 117,250Public works 85,000Health and sanitation (all from grant) 22,000Utilities: General government 11,950Public safety 19,850Public works 15,450Health and sanitation 3,900Insurance: General government 28,000Public safety 13,700Public works (all prepaid as of the end of the year) 6,900Health and sanitation 5,100Miscellaneous: General government 18,700Public safety 15,100Public works 11,450Health and sanitation 8,550Interest on previous debt 25,200Principal payment on previous debt 13,000Interest on new debt 23,130Building (public works) 246,000Equipment (public safety) 111,000Public works supplies (30% still held) 24,500Investments 158,000Ordered but not received: Equipment 39,000Supplies 8,700Due at end of year: Salaries: General government 19,800Public safety 21,050Public works 7,800 On the last day of the year, the city borrowed $68,000 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 $266,500 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 $163,050 at year-end. a-1.

statement of activities for governmental activities for December 31, 2017, and the year then ended.a-2.

statement of net position for governmental activities for December 31, 2017, and the year then ended.b-1.

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.

balance sheet for the General Fund as of December 31, 2017, and the year then ended. Assume that the purchases method is being applied.I need to make solution of all 4 required parts.... thanks

Chapter 17 Homework i Saved Check my work mode : This shows what is correct or incorrect for the work you have com 7 Req A1 Req A2 Req Bi Req B2 8.33 Prepare a statement of activities for governmental activities for December 31, 2017, and the year then ended. (Amounts to points be deducted should be indicated by a minus sign.) CITY OF BERNARD Statement of Activities For Year Ended December 31, 2017 Program Revenues Net (Expense) Revenue and Changes in Net Position Charges Functions/Programs Expenses for Grants and Governmental Total Services contributions Activities Governmental activities: General government $ 242.450 $ 23,100 $ (219,350) $ (219,350) Public safety 198,050 11,950 (186,100) (186.100) Public works 189,125 (118,300) & (118,300) & Health and sanitation 39.550 34,700 25,600 20,750 20.750 Interest on debt 48,330 (48,330) (48,330) lotal governmental activities $ 717,505 $ 69,750 25,600 $ (551,330) $ (551,330) General revenues: Property taxes $ 778,200 $ 778,200 Sales taxes 99,300 99.300 Dividend income 29,000 29,000 Gain on sale of investments 19.800 x 19,800 x Gain on value of investments 7,800 Total general revenues $ 934,100 $ 926,300 Change in net position: Change during 2017 $ 382,770 $ 374,970 Net position-beginning 130,200 x Net position-ending $ 512,970 $ 374,970