Question
The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020:
The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020: Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities Capital assets, net, governmental activities Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities General obligation bonds, governmental activities Revenue bonds, business-type activities Long-term liability for compensated absences, governmental activities $ 400,000 842,000 474,000 1,401,000 548,000 14,227,000 7,482,000 685,000 589,000 8,219,000 3,382,000 378,000 From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $583,000 for governmental activities and $200,000 for business-type activities. (Negative amounts should be indicated by a minus sign) Assets: Total Assets Liabilities: Total Liabilities Net Position: Total Net Position CITY OF SOUTHERN SPRINGS Statement of Net Position As of April 30, 2020 Governmental Activities Business-Type Activities Total
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