The City of Bernard starts the year of 2020 with the following unrestricted amounts in its general fund: cash of $24,750 and investments of $80,750. In addition, it holds a small building bought on January 1, 2019, for general government purposes for $342,000 and a related long-term debt of $273,600. The building is depreciated on the straight-line method over 10 years. The annual interest rate on the debt 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 Sales taxes Dividend income Charges for general government services Charges for public safety services. Charges for public works $665,000 100,600 23,000 19,600 11,900. 5,100 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 Receivables at year-end: Sold investments (mentioned above) Property taxes ($12,000 is expected to be uncollectible) Payments: Salary: General government Public safety Public works Health and sanitation (all 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 35,100 12,900 36,100 248,000 99,100 134,000 139,000 112,000 76,000 31,900 9,650 19,350 14,500 4,800 34,000 20,300 7,500 6,600 17,200 18,300 9.650 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 investments (mentioned above) Receivables at year-end: Property taxes ($12,000 is expected to be uncollectible). Payments: Salary: General government Public safety Public works 11,900 5,100 35,100 12,900 36,100 248,000 99,100 134,000 139,000 General government Health and sanitation (all from grant) Utilities: Public safety 112,000 76,000 31,900 9,650 19,350 Public works 14,500 Health and sanitation 4,800 Insurance: General government 34,000 Public safety 20,300 Public works (all prepaid as of the end of the year) 7,500 Health and sanitation 6,600 Miscellaneous: Public safety General government 17,200 18,300 Public works 9,650 Health and sanitation 11,100. Interest on previous debt 27,360 Principal payment on previous debt 17,700 Interest on new debt 22,320 Building (public works) 240,000 Equipment (public safety) 108,000 Public works supplies (30% still held) 26,100 Investments 130,000 Ordered but not received: 42,250 Equipment 11,350 Supplies Due at end of year: Salaries: General government Public safety Public works 18,600 17,800 6,600 Public works 18,600 17,800 6.600 On the last day of the year, the city borrows $71,000 from a local bank and uses the 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 opens a landfill this year that it records within its general fund. It is a public works function. Closure costs today is estimated as $275,500 although officials do not expect the landfill to be filled for nine more years. The city has incurred no costs to date. The landfill is now 15 percent filled. For the equipment and supplies that were 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 arrive. The new building is depreciated over 20 years using the straight-line method and no residual value. 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 have a market value of $139,700 at year-end. a-1. Prepare a statement of activities for governmental activities in government-wide financial statements for December 31, 2020, and the year then ended. a-2. Prepare a statement of net position for governmental activities in government-wide financial statements for December 31, 2020, and the year then ended. b-1. Prepare a statement of revenues, expenditures, and other changes in fund balances for the general fund in fund financial statements as of December 31, 2020, and the year then ended. Assume the purchases method is applied. b-2. Prepare a balance sheet for the general fund in fund financial statements as of December 31, 2020, and the year then ended. Assume the purchases method is applied. Complete this question by entering your answers in the tabs below. Prepare a statement of activities for governmental activities in government-wide financial statements for December 31, 2020, and the year then ended. (For columns under "Net (Expense) Revenue and Changes in Net Position", enter values to be deducted with negative sign. Enter rest of the values as positive.) CITY OF BERNARD Statement of Activities For Year Ended December 31, 2020 Functions/Programs: Governmental activities: Program Revenues Expenses Charges for Grants and Services Contributions Net (Expense) Revenue and Changes in Net Position. Governmental Total Activities Total governmental activities $ 0 $ 0 $ 0 $ 0 $ 0 General revenues: Total general revenues Change in net position: Change during 2020 $ $ 0 $ 0 $ 0 $ 0 $ 0 Req A1 Req A2 Req B1 Req B2 Prepare a statement of net position for governmental activities in government-wide financial statements for December 31, 2020, and the year then ended. Assets: Current assets: CITY OF BERNARD Statement of Not Position December 31, 2020 Governmental Totals Activities Total current assets $ 0 $ 0 Capital assets: Total assets Liabilities: 1 Current liabilities: $ 0 $ 0 Total assets Liabilities: Current liabilities: Ces Noncurrent liabilities: Total liabilities. Net position: $ 0 $ 0 $ 0 $ 0 Total net position $ 0 $ 0 < Req A1 Req B1 > Req A1 Req A2 Req B1 Req 82 Prepare a statement of revenues, expenditures, and other changes in fund balances for the general fund in fund financial statements as of December 31, 2020, and the year then ended. Assume the purchases method is applied. CITY OF BERNARD Statement of Revenues, Expenditures, and Other Changes in Fund Balances Governmental Funds For Year Ended December 31, 2020 Revenues: Total Expenditures: Current: Debt service: General Fund $ 0 Debt service: Capital outlay: Total expenditures Excess (deficiency) of revenues over expenses Other financing sources: $ 0 $ 0 Total other financing sources $ 0 Net changes in fund balance 0 $ 0 < Req A2 Req B2 > Req A1 Req A2 Req B1 Req B2 Prepare a balance sheet for the general fund in fund financial statements as of December 31, 2020, and the year then ended. Assume the purchases method is applied. CITY OF BERNARD Balance Sheet Governmental Funds December 31, 2020 Assots: Total assets. Liabilities and fund balances: Liabilities: Fund balances: General Fund $ 0 $ 0 Total liabilities and fund balance $ 0