The City of Sweetwater maintains an Employees' Retirement Fund, a single-employer defined benefit plan that provides annuity and disability benefits. The fund is financed by actuarially determined contributions from the city's General Fund and by contributions from employees. Administration of the retirement fund is handled by General Fund employees, and the retirement fund does not bear any administrative expenses. The Statement of Fiduciary Net Position for the Employees' Retirement Fund as of July 1, 2019, is shown here:

CITY OF SWEETWATER Employees' Retirement Fund Statement of Fiduciary Net Position As of July 1, 2619 Assets Cash 15 145,060 Accrued Interest Receivable 46,666 Investments, at Fair Value: Bonds 4,566,666 Common Stocks 1,366,666 Total Assets 5,985,666 Liabilities Accounts Payable and Accrued Expenses 400,060 Fiduciary Net Position Restricted for Pensions $5,585,666 During the year ended June 30, 2020, the following transactions occurred: The interest receivable on investments was collected in cash. Member contributions in the amount of $260,000 were received in cash. The city's General Fund also contributed $830,000 in cash. Annuity benets of $740,000 and disability benets of $172,000 were recorded as liabilities. Accounts payable and accrued expenses in the amount of $990,000 were paid in cash. Interest income of $235,000 and dividends in the amount of $40,000 were received in cash. In addition, bond interest income of $45,000 was accrued at year-end. Refunds of $68,000 were made in cash to terminated, nonvested participants. Common stocks, carried at a fair value of $500,000, were sold for $475,000. That $475,000, plus an additional $305,000, was invested in stocks. At yearend, it was determined that the fair value of stocks held by the pension plan had decreased by $42,000; the fair value of bonds had increased by $33,000. 9. Nominal accounts for the year were closed. WPW Ne 90,491 No Transaction General Journal Debit Credit 01 Cash 40,000 Accrued Interest Receivable 40,000 2 02 Cash 1,090,00 Additions-Member Contributions 260,000 V Additions-Employer Contributions 830,000 V 3 03 Deductions-Annuity Benefits 740,000 Deductions-Disability Benefits 172,000V Accounts Payable 912,000 4 04 Accounts Payable 990,000V Cash 990,000 5 5a Cash 275,000 Additions-Interest Income 235,000 Additions-Dividend Income 40,000 6 5b Accrued Interest Receivable 45,000 Additions-Interest Income 45,000 7 06 Deductions-Refunds to Term Employees 68,000 Cash 68,000V 8 7a Cash 475,000 Additions-Net Decrease in Fair Value 25,000 V Investments in Common Stock 500,000 9 7b Investments in Common Stock 780,000 Cash 780,000 10 08 Investment in Bonds 33,000 Additions-Net Decrease in Fair Value 9,000 Investments in Common Stock 42,000 11 09 Additions-Member Contributions 260,000 Additions-Employer Contributions 830,000 Additions-Interest Income 235,000 X Additions-Dividend Income 40,000 Deductions-Annuity Benefits 740,000 V Deductions-Disability Benefits 172,000V Deductions-Refunds to Term Employees 68,000 Additions-Net Decrease in Fair Value Net Position: Restricted for OPEB BenefitsPrepare a Statement of Changes in Fiduciary Net Position for the Employees' Retirement Fund For the year ended June 30, 2020. (Amounts to be deducted should be indicated wit a minus sign.) '- _I '- 'l Q Show less A Required Required Required A B C Prepare a Statement of Fiduciary Net Position for the Employees' Retirement Fund as of June 30, 2020. Total Assets E.- Liabilities Total Liabilities 5- Fiduciaryr Net Position Total Net Position 5