The City of Sandwich purchased a swimming pool from a private operator as of April 1, 2020, for $400,000, of which $200,000 was provided by a one-time contribution from the General Fund, and $200,000 was provided by a loan from the First National Bank, secured by a note. The loan has an annual interest rate of 6 percent, payable semiannually on October 1 and April 1; principal payments of $100,000 are to be made annually, beginning on April 1, 2021. The city has a calendar year as its fiscal year. During the year ended December 31, 2020, the following transactions occurred related to the City of Sandwich Swimming Pool:

1. The amounts were received from the City General Fund and the First National Bank.
2. A loan was provided in the amount of $125,000 from the Water Utility Fund to provide working capital.
3. The purchase of the pool was recorded. Based on an appraisal, it was decided to allocate $100,000 to the land, $200,000 to improvements other than buildings (the pool), and $100,000 to the building.
4. Charges to patrons during the season amounted to $242,000, all received in cash.
5. Salaries paid to employees amounted to $115,000, all paid in cash, of which $75,000 was cost of services and $40,000 was administration.
6. Supplies purchased amounted to $40,000; all but $5,000 was used. Cash was paid for the supplies, all of which was for cost of sales and services.
7. Administrative expenses amounted to $16,500, paid in cash.
8. The first interest payment was made to the First National Bank.
9. The short-term loan was repaid to the Water Utility Fund.
10. Depreciation of $18,500 for the pool and $6,000 on the building was recorded for the nine months they were in operation.
11. Interest was accrued for the year.
12. Closing entries were prepared.

Required:

1. Prepare entries to record the transactions # 9 - # 13
2. Prepare a Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 2020, for the City of Sandwich Swimming Pool Fund.
3. Prepare a Statement of Net Position as of December 31, 2020, for the City of Sandwich Swimming Pool Fund.
4. Prepare a Statement of Cash Flows for the year ended December 31, 2020, for the City of Sandwich Swimming Pool Fund.

9 9 No Transaction Recorded 10 10 No Transaction Recorded 11 11 24,500 6,000 18,500 12 12 No Transaction Recorded 13 13 No Transaction Recorded Swimming St of Revenues Pool Fund Expenses St of Net Position St of Cash Flows Prepare a statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended Decembe the City of Sandwich Swimming Pool Fund. Enter deficiencies and transfers out, if any, as negative values. 242,000 242,000 CITY OF SANDWICH SWIMMING POOL FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION YEAR ENDED DECEMBER 31, 2020 REVENUES No Journal Entry Required TOTAL REVENUES OPERATING EXPENSES Administrative Expense Depreciation Expense Cost of Sales and Services TOTAL OPERATING EXPENSES Operating Income (Loss) S NON-OPERATING EXPENSES: Interest Expense 56,500 24,500 110,000 191,000 51,000 > 9,000 Transfer from General Fund Change in Net Position Net Position - Beginning of year Net Position - End of year 200,000 242,000 0 242,000 Swimming Pool Fund St of Net Position Swimming Pool Fund St of Revenues Expenses St of Net Position St of Cash Flows Prepare a statement of Net Position as of December 31, 2020, for the City of Sandwich Swimming Pool CITY OF SANDWICH SWIMMING POOL FUND STATEMENT OF NET POSITION DECEMBER 31, 2020 Assets 400,000 (24,500) $ 375,500 Total Assets Liabilities And Fund Equity Liabilities Total Current Liabilities 3,000 3,000 Total Liabilities Net Position Total Liabilities And Net Position $ 445,000 SWIMMING POOL FUND STATEMENT OF CASH FLOWS YEAR ENDED DECEMBER 31, 2020 CASH FLOWS FROM OPERATING ACTIVITIES Cash received from customers Cash paid for salaries $ 0 Net Cash Provided by (Used for) Operating Activities CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES 125,000 (125,000) 0 Net Cash Provided by(Used for) Noncapital Financing Activities CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES (400,000) 200,000 200,000 (6,000) (6,000) Net Cash Provided by(Used for) Capital and related financing activities CASH FLOWS FROM INVESTING ACTIVITIES Increase in Cash and Cash Equivalents 64500 $ 64,500 RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES 24,500 (5,000) 70,500 $