The following is the preclosing trial balance for Allen University as of June $30,2023.$ Additional information related to net assets and the statement of cash flows is also provided. Required

b$.$ Prepare a statement of financial position for June $30,2023.$ Statement of Cash Flows

For The Year Ended June $30,2023$

$\backslash$table$[[\backslash$table$[[$ALLEI UITVERSITT$],[$Preclosing Trisl Eslance$],[$June $30,2023]],$Debits,Gredits$],[$Cash and Cash Equivalents,$$520,020,$creolts$],[$Imvestnents$,3,223,000,],[$Tuition and Fees seceivable$,374,700,],[$Allousnce for Doubtful Accounts,,$76,050],[$Pledges seceivable$,224,330,],[$Allowance for Doubtful Pledges,,$79,450,],[$Property$,$ Plant, and Equipnent,$2,208,950,],[$Accunulsted Deprecistion,,$662,570],[$Accounts Parable,,$103,630],[$Accrued Lisbilities,,$40,300],[$Deposits Held in Custody for others,,$19,110],[$Deferred Revenue,,$67,590],[$Eonds Payable,,$352,000],[$llet Assets$-$lithout Donor Restrictions,,$3,173,160],[$llet Assets$-$Hith Donor Restrictions,,$1,437,700],[$Net Assets Released fron Restrictions$-$Hlith Donor Restrictions,$454,400,],[$llet Assets selessed fron Restrictions$-$Hithout Donor Restrictions,,$484,400,],[$Tuition and Fees,,$1,294,000],[$Tuition and Fees Discount and Allowances,$328,000,],[$Contributions$-$Hithout Donor Restrictions,,$313,670],[$Contributions$-$llith Donor Restrictions,,$333,610],[$Grants and Contracts$-$lith Donor Restrictions,,$327,450],[$Imvestment Incone$-$Hithout Donor Restrictions,,$53,650],[$Irvestnent Incone$-$Hith Donor Restrictions,,$31,600],[$Other Revenue,,$13,700],[$Auxiliary Entergrise Sales and services,,$153,900],[$Gsin on Ssle of Imwestnents,,$72,200],[$Unreslized Gsin on Imwestnents,,$574,390],[$Instruction Expense,$1,109,330,],[$Reseanch Expense,$644,100,],[$Acadenic Support Expense,$295,650,],[$Student Services Expense,$262,100,],[$Institutionsl support Expense,$278,760,],[$Auciliary Enterprise Expenses,$231,300,],[$Totsl$,\backslash$bar $($$$10,164,730),$$$10,164,736]]$

Additional Information

Net assets relessed from donor restrictions totaled $$464,400.$ The gain resulting from sale of investments was unrestricted. Thirty percent of the unrealized goin is related to net assets restricted for programs, with the remainder related to net assets without donor restrictions.

Additional information is as follows:

The balance in cash and cash equivalents as of July $1,2022,$ was $$923,330.$

Tuition and Fees Receivable increased by $$13,600.$

Pledges Receivable decressed by $$2,080.$

Allowance for Doubtful Accounts was increased by $$990($the bad debt increased Institutional Support Expense$).$

Accounts Paysble decreased by $$3,780.$

Accrued Liabilities decreased by $$1,510.$

Deferred Revenue increased by $$8,370.$

Depreciation Expense wos $$40,530.$

Cash of $$155,000$ was used to retire bonds.

Investments were sold for $$2,325,000($at a gain of $$72,200)$ and others were purchased for $$1,937,500.$

Net assets without donor restrictions were used to purchase equipment at a cost of $$51,300.$

Required

b$.$ Prepore a statement of financial position for June $30,2023.$

$\backslash$table$[[$ALLEN UNIVER $3$ITY,$],[$Statement of Financlal Position,$],[$June $30,2023,],[$Assets$,]]$