The City of Bernard starts the year of 2020 with the following unrestricted amounts in its general fund: cash of $30,500 and investments of $80,500. In addition, it holds a small building bought on January 1, 2019, for general government purposes for $345,000 and a related long-term debt of $276,000. 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 $610,000 106,000 28,000 Charges for general government services 21,800 Charges for public safety services 12,650 Charges for public works 4,200 Charges for health and sanitation services 36,900 Charges for landfill 8,100 Grant to be used for salaries for health workers (no eligibility requirements) 28,400 Issued long-term note payable 257,000 Sold investments (mentioned above) 95,350 Receivables at year-end: Property taxes ($19,800 is expected to be uncollectible) 156,500 Payments: Salary: General government Public safety Public works 110,500 113,750 70,250 Health and sanitation (all from grant) 25,400 Utilities: General government 11,400 Public safety 17,750 Public works 16,350 Health and sanitation 5,100 Insurance: General government 28,900 Public safety 20,500 Public works (all prepaid as of the end of the year) 6,600 Health and sanitation 6,600 Miscellaneous: General government 19,100 Public safety 19,600 Public works 13,650 Health and sanitation 10,500 Interest on previous debt 27,600 Principal payment on previous debt 10,000 Interest on new debt 23,130 Building (public works) 258,000 Equipment (public safety) 99,000 Public works supplies (30 % still held) 26,900 Investments 149,500 Ordered but not received: Equipment 34,500 Supplies 9,850 Due at end of year: Salaries: General government Public safety Public works 16,800 17,150 7,500 On the last day of the year, the city borrows $69,000 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 $280,500 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 $159,450 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. Statement of Revenues, Expenditures, and Other Changes in Fund Balances - Governmental Funds For Year Ended December 31, 2020 Revenues: Property taxes Sales taxes Dividend income Charges for services Grant Investments (realized gain) Investments (unrealized gain) Total Expenditures: Current: General governmental Public safety Public works Health and sanitation Debt service: Principal payment on debt Interest on debt Capital outlay: Building Equipment Truck Total expenditures Excess (deficiency) of revenues over expenses Other financing sources: Proceeds from long-term note Proceeds from bank loan Total other financing sources Net changes in fund balance Fund balance-beginning Fund balance-ending General Fund $ 0 $ 0 $ 0 $ 0 0 $ 0 Complete this question by entering your answers in the tabs below. 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 Assets: Total assets Liabilities and fund balances: Liabilities: Fund balances: General Fund $ 0 $ 0 Total liabilities and fund balance S 0