The following Statement of Cash Receipts and Disbursements was prepared by the bookkeeper of the City of Brookdale City Museum of Science. The museum is a component unit of the City of Glass City and must be included in the citys financial statements. It began operations on January 1, 2012 with no liabilities or commitments and only two assets. (1) $8,000 in cash and (2) Land that was acquired for $10,000. Cash Basis 12 months Cash Receipts: Admission Fees $330,000 Loan from the Bank 60,000 Cash dividends received from stock investment 3,500 Total deposits $393,500 Cash Disbursements: Supplies $74,000 Wages 134,000 Utilities 51,000 Purchase of Equipment 80,000 Purchase of Fixtures 40,000 Interest on the Bank Loan 1,200 Total checks $380,200 Excess of Receipts Over Disbursements $13,300 Additional Information: The loan from the bank is dated April 1 and is for a five-year period. Interest (4% annual rate) is paid on Oct. 1 and April 1 of each year, beginning Oct. 1, 2012. The equipment was purchased on April 1, 2012 with the proceeds provided by the bank loan and has an estimated useful life of 10 years (please use the straight-line method of depreciation) for computing depreciation on the equipment. The fixtures were purchased on July 1, 2012 and has an estimated useful life of five years (please use the straight-line method of depreciation) for computing depreciation on the fixtures. Supplies on-hand amounted to $6,200 at December 31, 2012. All other bills and salaries related to 2012 had been paid by the close of business on December 31. Required: Please prepare a Statement of Revenues, Expenses, and Changes in Net Assets for the year ended December 31, 2012 assuming the city plans to account for its activities on the accrual basis.