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 Pund Statement of Cash Flows For the Year Ended June 30, 2020 Cash flows from operating activities: Cash received from other departments $ 956,000 Cash paid for suppliers and employees (151,000) Cash paid on insurance claims (717, 800) Transfer from General Fund 289,900 Investment income received 28,800 Interest paid on long-term debt (18,100) Cash flows from operating activities 387,800 Cash flows from investing activities: Acquisition of property, plant, and equipment (322,000) Purchase of investments 233,000) Sale of property, plant, and equipment 46,200 Cash flows from investing activities (508,800) Cash flows from financing activities: Proceeds from issuance of long-tern debt 328, 100 Payments on long-term debt (15,700) Cash flows from financing activities 312,400 Net increase in cash and cash equivalents 191,400 Cash and cash equivalents, July 1, 2019 129,000 Cash and cash equivalents, June 30, 2020 $ 320,400 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. (Amounts to be deducted should be indicated by a minus sign.) CITY OF WRIGHTVILLE RISK MANAGEMENT INTERNAL SERVICE FUND Statement of Cash Flows For the Year Ended June 30, 2020 Cash Flows From Operating Activities: Cash Received from Other Departments Cash Paid for Claims Cash Paid for Supplies and Employees $ 0 Net Cash Provided by Operating Activities Cash Flows From Noncapital Financing Activities: Transfer In from General Fund > > 0 Net Cash Provided by Noncapital Financing Activities Cash Flows From Capital Related Financing Activities: Proceeds from Long-term Debt Payments on Long-term Debt Principal Payments on Interest on Long-term Debt Cash Paid for Capital Assets Cash Received on Sale of Capital Assets lololololo > 0 Net Cash Provided by Capital Related Financing Activities Cash Flows from Investing Activities: Investment Income Purchase of Investment Securities olol 0 olo $ 0 Net Cash Used for Investing Activities Net Increase in Cash and Cash Equivalents Cash and Cash Equivalents, July 1, 2019 Cash and Cash Equivalents, June 30.2020 0