The following information pertains to the City of Williamson for 2020, its first year of legal existence. For convenience, assume that all transactions are for the general fund, which has three separate functions: general government public safety, and health and sanitation Ini $436,000 49,900 6,600 3,900 49,400 300,000 93,600 70,550 40,900 22,900 15,700 18,200 3,000 Receipts: Property taxes Franchise taxes Charges for general government services Charges for public safety services Charges for health and sanitation services Issued long-term note payable Receivables at end of year: Property taxes (908 estimated to be collectible) Payments: Salary: General government Public safety Health and sanitation Rent: General government Public safety Health and sanitation Maintenance: General government Public safety Health and sanitation Insurance: General government Public safety ($2,500 still prepaid at end of year) Health and sanitation Interest on debt Principal payment on debt Storage shed Equipment Supplies (208 still held) (public safety) Investments Ordered but not received: Equipment Liabilities, all of which are due in one month at end of year: Salaries: General government Public safety Health and sanitation 37,600 7,800 11,000 9,200 13,800 16,700 24,000 6,000 175,000 125,000 20,900 100,000 21,500 6,600 7,500 8,100 Compensated absences (such as vacations and sick days) legally owed to general government workers at year-end total $22,500 These amounts will not be taken by the employees until so late in 2021 that the payment is not viewed as requiring 2020 current financial resources The city received a piece of art this year as a donation. It is valued at $16,700. The city plans to use it for general government purposes. The gift has no eligibility requirements. The city chose not to capitalize this property General government activities use the storage shed that was acquired this year. It is depreciated over a 10-year period using the straight-line method with no residual value. The city uses the equipment for health and sanitation and depreciates it using the straight- line method over five years with no residual value The investments are valued at $114,200 at the end of the year. For the equipment that was ordered but not yet received, the City Council (the highest decision-making body in the government) voted to honor the commitment when the equipment eventually arrives. a-1. Prepare a statement of activities for governmental activities in government-wide financial statements for December 31, 2020, and the year then ended. a-2. Prepare a statement of net position for governmental activities in government-wide financial statements for December 31, 2020, and the year then ended. b-1. Prepare a statement of revenues, expenditures, and other changes in fund balances for the general fund in fund financial statements as of December 31, 2020, and the year then ended. Assume that the city applies the consumption method. b-2. Prepare a balance sheet for the general fund in fund financial statements as of December 31, 2020, and the year then ended. Assume that the city applies the consumption method. Prepare a statement of activities for governmental activities in government-wide financial statements for December 31, 2020, and they CITY OF WILLIAMSON Statement of Activities For Year Ended December 31, 2020 Program Revenues Net (Expense) Revenue and Changes in Net Position Charges for Operating Capital Business- Governmental Services Grants and Grants and Contributions Contributions Activities type Activities Functions/Programs Expenses Total Governmental activities $ Total governmental activities General revenues: 0 S 0 $ 0 $ 0 $ 0 $ 0 $ Total general revenues Change in net position $ 0 $ 0 0 $ 0 0 0 $ 0 $ 0 $ 0