The following is a Statement of Cash Flows for the risk management internal service fund of the City of Wrightville. An inexperienced accountant prepared the statement using the FASB format rather than the format required by GASB. All long-term debt was issued to purchase capital assets. The transfer from the General Fund was to establish the internal service fund and provide the initial working capital necessary for operations CITY OF WRIGHTVILLE Risk Management Internal Service Fund Statement of Cash Flows For the Year Ended June 30, 2017 Cash flows from operating activities Cash received from other departments Cash paid for suppliers and employees Cash paid on insurance claims Transfer from General Fund Investment income received Interest paid on long-term debt $925,000 (120,000) (700,000) 250,000 25,000 (15,000) 365,000 Cash flows from operating activities Cash flows from investing activities Acquisition of property, plant, and equipment (290,000) (200,000) 42,000 Purchase of investments Sale of property, plant, and equipment Cash flows from investing activities Cash flows from financing activities (448,000 Proceeds from issuance of long-term debt Payments on long-term debt Cash flows from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents, July 1, 2016 Cash and cash equivalents, June 30, 2017 300,000 (14,000) 286,000 203,000 118,000 $321,000 Prepare a statement of cash flows using the appropriate format as required by GASB. You do not need to prepare the reconciliation of operating income to cash flow from operations