The Kare Counseling Center was incorporated as a not-for-profit voluntary health and welfare organization 10 years ago. Its adjusted trial balance as of June 30, 2020, follows.

Debits				Credits
Cash	$	122,900
Pledges ReceivableWithout Donor Restrictions		41,400
Estimated Uncollectible Pledges					$	4,500
Inventory		3,200
Investments		182,000
Furniture and Equipment		214,000
Accumulated DepreciationFurniture and Equipment						122,000
Accounts Payable						20,920
Net Assets Without Donor Restrictions						196,900
Net Assets With Donor RestrictionsPrograms						50,900
Net Assets With Donor RestrictionsPermanent Endowment						144,000
ContributionsWithout Donor Restrictions						349,220
ContributionsWith Donor RestrictionsPrograms						38,500
Investment IncomeWithout Donor Restrictions						9,600
Net Assets Released from RestrictionsWith Donor Restrictions		26,000
Net Assets Released from RestrictionsWithout Donor Restrictions						26,000
Salaries and Fringe Benefit Expense		288,810
Occupancy and Utility Expense		38,800
Supplies Expense		7,340
Printing and Publishing Expense		4,590
Telephone and Postage Expense		3,900
Unrealized Gain on Investments						2,400
Depreciation Expense		32,000
Totals	$	964,940			$	964,940

1. Salaries and fringe benefits were allocated to program services and supporting services in the following percentages: counseling services, 40 percent; professional training, 20 percent; community service, 10 percent; management and general, 20 percent; and fund-raising, 10 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 $167,314 of cash on hand at the beginning of the year. During the year, the center received cash from contributors: $309,200 that was unrestricted and $38,500 that was restricted for the purchase of equipment for the center. It had $9,600 of income earned and received on long-term investments. The center spent cash of $288,810 on salaries and fringe benefits, $26,000 on the purchase of equipment for the center, and $86,904 for operating expenses. Other pertinent information follows: net pledges receivable increased $5,400, inventory increased $1,400, accounts payable decreased $103,994, and there were no salaries payable at the beginning of the year.

a) Prepare a statement of financial position as of June 30, 2020.

KARE COUNSELING CENTER
Statement of Financial Position
June 30, 2020
Assets
Cash	$122,900
Pledges Receivable	36,900
Inventory	3,200
Investments	182,000
Furniture and Equipment	92,000
Total Assets	$437,000
Liabilities
Accounts Payable	$20,920
Total Liabilities	20,920
Net Assets
ContributionsWithout Donor Restrictions
ContributionsWith Donor RestrictionsPrograms
With Donor RestrictionsPermanent Endowment	144,000
Total Net Assets	144,000
Total Liabilities and Net Assets	$164,920

Unsure on contributions-without donor restrictions and with donor restrictions-programs

c) Prepare a statement of activities for the year ended June 30, 2020.

KARE COUNSELING CENTER Statement of Activities Year Ended June 30, 2020 Without Donor Restrictions With Donor Restrictions Total $ $ 38,500 $ Revenues, Gains, and Other Support: Contributions Unrealized Gain on Investments Investment Income Net Assets With Donor Restrictions Released from Restrictions 349,220 2,400 9,600 26,000 387,720) 2,400 9,600 (26,000) 387,220 1.220 12,500 399,720 Total Revenues, Gains, and Other Support Expenses and Losses: Program Services: Counseling Services Professional Training Community Service Total Program Expenses Support Expenses Management and General Fund-Raising 0 Total Support Expenses Total Expenses and Losses Change in Net Assets Net Assets, July 1, 2019 Net Assets, June 30, 2020 0 0 12,500 387,220 399,720 | $ 387,220 $ 12,500 $ 399,720 KARE COUNSELING CENTER Statement of Activities Year Ended June 30, 2020 Without Donor Restrictions With Donor Restrictions Total $ $ 38,500 $ Revenues, Gains, and Other Support: Contributions Unrealized Gain on Investments Investment Income Net Assets With Donor Restrictions Released from Restrictions 349,220 2,400 9,600 26,000 387,720) 2,400 9,600 (26,000) 387,220 1.220 12,500 399,720 Total Revenues, Gains, and Other Support Expenses and Losses: Program Services: Counseling Services Professional Training Community Service Total Program Expenses Support Expenses Management and General Fund-Raising 0 Total Support Expenses Total Expenses and Losses Change in Net Assets Net Assets, July 1, 2019 Net Assets, June 30, 2020 0 0 12,500 387,220 399,720 | $ 387,220 $ 12,500 $ 399,720