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= $440,000

Cash and cash equivalents, business activities= $926,000

Receivables, governmental activities= $522,000

Receivables, business activities= $1,542,000

Inventories, business activities= $604,000

Capital assets, net, governmental activities= $15,680,000

Capital assets, net, business activities= $8,246,000

Accounts payable, governmental activities= $754,000

Accounts payable, business activities= $649,000

General obligation bonds, governmental activities= $9,056,000

Revenue bonds, business activities= $3,726,000

Long-term liability for compensated absences, governmental activities= $417,000

Objective: Prepare the 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 $642,000 for governmental activities and $220,000 for business activities.

City of Southern Springs

Statement of Net Position

As of April 30, 2020

Governmental Activities Business Activities Total

Assets:

Liabilities:

Net Position: