The following information belong to ABC Nonprofit Organization: Statement of Financial Position (ending 31 March 2019) 30,000 Current liabilities Current assets Noncurrent assets 165,000 Net Assets 20,000 Unrestricted Temporary Rest Permanently Rest 149,000 21,000 5,000 Total assets 195,000 Total liabilities & net assets 195,000 Trial Balance (from 1 April 2019-31 March 2020) Contributions temporarily restricted Contributions-unrestricted Membership dues-unrestricted Program fees-unrestricted Fundraising events-temporarily restricted Grants-unrestricted Dr. Cr. 80,000 74,500 10,000 12,000 35,000 2,000 Investments (government bonds) 65,000 Investment income-temporarily restricted (10%) 6,500 Gain on sale of investments-temporarily restricted 1,000 Program expenses-unrestricted 90,000 Management and general expenses-unrestricted Statistical discrepancy 32,000 23,000 Fundraising expenses-temporarily restricted 141,000 286,000 286,000 Note: a. Fundraising expenses include 30 % from contributions, 25 % from fundraising events, and the remaining from the investment income. b. Depreciation expense on the noncurrent assets is at 12% pa. Q1. Prepare statement of activities and statement of financial position ending 31 March 2020. (30 marks) Q2. Give short description of fund accounting. Refer to the above information, provide a brief definition and examples of the three types of net assets. (20 marks)