The Kare Counseling Center was incorporated as a not-for-profit organization 10 years ago. Its adjusted trial balance as of June 30, 2023, follows. Credits Debits $ 111,500 42,900 $ 6,000 4,700 197,600 229,000 Cash Pledges Receivable Without Donor Restrictions Estimated Uncollectible pledges Inventory Investments Furniture and Equipment Accumulated Depreciation Furniture and Equipment Accounts Payable Net Assets Without Donor Restrictions Net Assets With Donor Restrictions-Programs Net Assets With Donor Restrictions-Permanent Endowment Contributions Without Donor Restrictions Contributions-With Donor Restrictions-Programs Investment Income without Donor Restrictions Net Assets Released from Restrictions with Donor Restrictions Net Assets Released from Restrictions without Donor Restrictions Salaries and Fringe Benefit Expense Occupancy and Utility Expense Supplies Expense Printing and Publishing Expense Telephone and Postage Expense Unrealized Gain on Investments Depreciation Expense Totals 129,500 22,420 198,400 52,400 159,000 350, 720 42,100 11,100 41,000 41,000 290,319 40,300 8,840 6,090 5.400 3,900 39,500 $1,016, 540 $1,016,540 1. Salaries and fringe benefits were allocated to program services and supporting services in the following percentages counseling services, 30 percent, professional training, 20 percent community service, 10 percent, management and general, 20 percent; and fund-raising, 20 percent Occupancy and utility, supplies, printing and publishing, and telephone and postage expenses were allocated to the programs in the same manner as salaries and fringe benefits. Depreciation expense was divided equally among all five functional expense categories 2 The organization had $175,314 of cash on hand at the beginning of the year. During the year , the center received cash from contributors: $302,700 that was unrestricted and $42,100 that was restricted for the purchase of equipment for the center. It had $11,100 of income earned and received on long-term investments. The center spent cash of $290,310 on salaries and fringe benefits, $41,000 on the purchase of equipment for the center, and $88,404 for operating expenses Other pertinent information follows: net pledges receivable increased $4,600, inventory increased $3,500, accounts payable decreased $109,794, and there were no salarles payable at the beginning of the year a Prepare a statement of financial position as of June 30, 2023 " KARE COUNSELING CENTER Statement of Financial Position June 30, 2023 Assets Total Assets 0 Liabilities Total Liabilities 0 Net Assets Dry 44 12 12 14 Mavi b. Prepare a statement of expenses by nature and function for the year ended June 30, 2023 KARE COUNSELING CENTER Statement of Expenses by Nature and Function Year Ended June 30, 2023 Program Services Counseling Professional Comunity Total Services Training Services Supporting Services Management and General Fund Raising Total Expenses 5 os 05 05 05 0 $ 05 KARE COUNSELING CENTER Statement of Expenses by Nature and Function Year Ended June 30, 2023 Program Services Counseling Professional Community Services Total Training Services All Services Supporting Services Management and General Fund Raising Total Total $ 0$ 0 $ 0 $ 01 $ 0 $ 0 $ 0 S 0 Required c Prepare a statement of activities for the year ended June 30, 2023 (Amounts to be deducted should be indicated with a minus sign.) KARE COUNSELING CENTER Statement of Activities Year Ended June 30, 2023 Without Donor Restrictions With Donor Restrictions Total Revenues. Gains, and Other Support $ 0 0 0 0 0 0 0 Total Revenues Gains, and Other Support Expenses and losses Program Services 0 Required information -ODOS 0 0 0 Total Revenues, Gains, and Other Support Expenses and Losses Program Services 0 P 0 0 0 0 0 Total Program Expenses Support Expenses 0 0 0 0 0 0 0 0 0 Total Support Expenses Total Expenses and Losses Change in Net Assets Net Acant Beninning of var 0 0 0 0