The City of Bernard starts the year of 2020 with the following unrestricted amounts in its general fund cash of $37,500 and investments of $86,750. In addition, it holds a small building bought on January 1, 2019, for general government purposes for $352,000 and a related long-term debt of $281,600. 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 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 ($11,700 is expected to be uncollectible) Payments: Salary: $559,000 104,100 28,000 22,500 11,300) 6,300 38,000 9,450 34,200 212,000 104,500 150,000 General government Public safety 102,000 115,750 Public works 70,250 Health and sanitation (all from grant) 29,400 Utilities: General government 11,300 Public safety 20,500 Public works 16,700 Health and sanitation 4,200 Insurance: General government 30,700 Public safety 17,400 Public works (all prepaid as of the end of the year) 8,700 Health and sanitation 5,400 Miscellaneous: Public safety Public works 4 13 General government 14,300 16,700 13,950 Health and sanitation 10,150 Interest on previous debt 28,160 Principal payment on previous debt 19,300 Interest on new debt 19,080 Building (public works) 222,000 Equipment (public safety) 90,000 Public works supplies (30% still held) 20,900 Investments 129,500 Ordered but not received: 35,000 Equipment 8.ASA interest on previous ueu Principal payment on previous debt 10,00 19,300 Interest on new debt 19,080 Building (public works) 222,000 Equipment (public safety) 90,000 Public works supplies (30% still held), 20,900 Investments 129,500 Ordered but not received: Equipment 35,000 8,050 Supplies Due at end of year: Salaries: General government Public safety Public works 20,900 19,650 5,100 On the last day of the year, the city borrows $67,000 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 $302,500 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 $139,050 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. Req A1 Req A2 Req B1 Req B2 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 Program Revenues Expenses Charges for Services Grants and Contributions Net (Expense) Revenue and Changes in Net Position Governmental Activities Total Functions/Programs Governmental activities: General government Public safety Public works Health and sanitation Interest on debt Total governmental activities $ 0 $ 0 $ 0 S 0 $ 0 General revenues: Property taxes Sales taxes + Dividend income Gain on sale of investments Gain on value of investments Total general revenues Change in net position: Change during 2020 Net position-beginning Net position-ending $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Req At Req A2 >