The Green Hills Water District was established on January 1 to provide water service to a suburban development. It accounts for its operations in a single enterprise fund. During the year it engaged in the following transactions: It issued $6 million of revenue bonds. For $4.5 million, it purchased the plant and equipment of the private water company that previously served the area. It incurred $500,000 in costs to improve and expand its plant and equipment. It billed customers $1.8 million of which it collected $1.5 million. It billed and collected $200,000 in tap connection fees from developers. The actual cost of the hookups (paid in cash) was $140,000. In incurred the following operating costs (all paid in cash): Purchases of water, $850,000 Labor and contract services, $320,000 Interest, $80,000 Supplies and miscellaneous, $60,000 It recognized depreciation of $350,000 on its capital assets. Prepare Journal entries to record the transactions. Prepare a year end statement of revenues, expenses and changes in net assets. Prepare a year end balance sheet