The City of Bernard starts the year of 2020 with the following unrestricted amounts in its general fund: cash of $22,250 and investments of $88,500. In addition, it holds a small building bought on January 1, 2019, for general government purposes for $395,000 and a related long-term debt of $316,000. 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: $626,000 108,500 20,000 15,300 8,550 5,100 36,600 10,200 32,900 251,000 102,650 158,000 128,000 94,000 73,500 27,200 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 ($13,000 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 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 (30% still held) 12,250 18,300 17,100 6,600 27,200 20,000 6,000 5,100 18,600 12,500 13,600 11,050 31,600 19,600 22,590 240,000 111,000 21,500 240,000 111,000 21,500 153,000 Building (public works) Equipment (public safety) Public works supplies (30% still held) Investments Ordered but not received: Equipment Supplies Due at end of year: Salaries: General government Public safety Public works 25,750 11,300 17,600 21,450 5,700 On the last day of the year, the city borrows $74,000 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 $287,000 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 $158,950 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 Reg 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. CITY OF BERNARD Statement of Net Position December 31, 2020 Governmental Activities Totals Assets: Current assets: $ 0 $ 0 Total current assets Capital assets: Total assets S 0 $ 0 TIL dose Capital assets: Total assets $ 0 $ 0 Liabilities: Current liabilities: Noncurrent liabilities: Total liabilities $ 0 $ 0 Net position: Total net position $ 0 $ 0 Statement of Revenues, Expenditures, and Other Changes in Fund Balances - Governmental Funds For Year Ended December 31, 2020 General Fund Revenues: $ 0 Total Expenditures: Current: Debt service: Capital outlay: $ 0 Total expenditures Excess (deficiency) of revenues over expenses Other financing sources: $ 0 Capital outlay: $ 0 Total expenditures Excess (deficiency) of revenues over expenses Other financing sources: $ 0 $ 0 Total other financing sources Net changes in fund balance 0 $ Reg A2 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 General Fund Assets: $ Total assets Liabilities and fund balances: Liabilities: Fund balances: $ 0 Total liabilities and fund balance $ 0