The following information pertains to the City of Williamson for 2017, 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.

Receipts:
Property taxes	$414,000
Franchise taxes	43,000
Charges for general government services	6,200
Charges for public safety services	4,300
Charges for health and sanitation services	47,800
Issued long-term note payable	314,000
Receivables at end of year:
Property taxes (90% estimated to be collectible)	100,800
Payments:
Salary:
General government	60,200
Public safety	32,800
Health and sanitation	20,200
Rent:
General government	16,300
Public safety	21,000
Health and sanitation	3,900
Maintenance:
General government	27,600
Public safety	5,700
Health and sanitation	11,500
Insurance:
General government	8,400
Public safety ($3,800 still prepaid at end of year)	15,300
Health and sanitation	15,700
Interest on debt	25,120
Principal payment on debt	6,280
Storage shed	194,000
Equipment	120,000
Supplies (20% still held) (public safety)	16,600
Investments	92,000
Ordered but not received:
Equipment	16,500
Due in one month at end of year:
Salaries:
General government	4,500
Public safety	8,400
Health and sanitation	9,300

Compensated absences (such as vacations and sick days) are legally owed to general government workers at year-end total $19,500. These amounts will not be taken by the employees until so late in 2018 that the payment is not viewed as requiring 2017 current financial resources.

The city received a piece of art this year as a donation. It is valued at $23,900. It will be used for general government purposes. There are no eligibility requirements. The city chose not to capitalize this property.

The general government uses the storage shed that was acquired this year. It is being depreciated over 10 years using the straight-line method with no salvage value. The city uses the equipment for health and sanitation and depreciates it using the straight-line method over five years with no salvage value.

The investments are valued at $109,900 at the end of the year.

For the equipment that has been ordered but not yet received, the City Council (the highest decision-making body in the government) has voted to honor the commitment when the equipment is received.

1. a-1. Prepare a statement of activities for governmental activities for December 31, 2017.

2. a-2. Prepare a statement of net position for governmental activities for December 31, 2017.

3. b-1. Prepare a statement of revenues, expenditures, and other changes in fund balances for the general fund as of December 31, 2017. Assume that the city applies the consumption method.

4. b-2. Prepare a balance sheet for the general fund as of December 31, 2017. Assume that the city applies the consumption method.

CITY OF WILLIAMSON Statement of Net Position December 31, 2017 Governmental Business-type Activities Activities Total Assets: Cash and cash equivalents Prepaid expenses Investments Receivables (net) Inventories 109,900 3,320 Capital assets (net) S 113,220 S 0 S Total assets abilities Salaries payable Compensated absences liability Noncurrent liabilities 22,200 19.500 307.720 Total Liabilities $ 349.420 S Net position: Invested in capital assets, net of related debt Unrestricted (deficit) Total net position 0 S 0S 0 CITY OF WILLIAMSON Statement of Revenues, Expenditures, and Other Changes in Fund Balances Governmental Funds For Year Ended December 31, 2017 Total General Fund Government Funds Revenues: Property taxes Franchise taxes Charges for services Investments (gain) Total revenues Os Expenditures: General government Public safety Health and sanitation Debt service: Principal payment on debt Interest on debt Capital outlay Total expenditures Excess of revenues over expenses Other financing sources: Proceeds from long-term note OS 0 S S 0 Total other sources Net changes in fund balance Fund balances (Beginning) Fund balances (Ending) OS CITY OF WILLIAMSON Balance Sheet Governmental Funds December 31, 2017 General Fund Total Government Funds Assets Cash and cash equivalents Prepaid expenses Investments Receivables, net Inventories Total assets S 0 s Liabilities Salaries payable S IS Total liabilities Fund balances Nonspendable Committed for equipment Unassigned Total fund balances Total liabilities and fund balances SO S 0 S 0