The Ombudsman Foundation is a private nonprofit organization providing dispute resolution and conflict management training. The Foundation had the following preclosing trial balance at December 31, 2024, the end of its fiscal year: Account: Accounts payable Accounts receivable (net) Accrued interest receivable Accumulated depreciation Cash Contributed services Contributions-no restrictions Contributions-purpose restrictions Contributions-endowment Current pledges receivable Debits Credits $25,100 $47,700 16,700 3,459,300 117,300 27,000 2,446,000 80,800 796,000 2,122,700 Education program expenses Fund-raising expenses Investment revenue-purpose restrictions Training seminars expenses Land, buildings, and equipment Long-term investments 1,538,100 124,300 4,550,100 92,500 5,614,700 2,743,500 Management and general expenses Net assets without donor restrictions Net assets with donor restrictions 408,600 487,400 2,047,000 Net gains on endowments-no restrictions Noncurrent pledges receivable 18,400 390,200 Program service revenue-no restrictions Postemployment benefits payable (long-term) 5,978,100 200,900 Reclassification-Satisfaction of program restrictions Reclassification-Satisfaction of time restrictions Reclassification-Satisfaction of program restrictions Reclassification-Satisfaction of time restrictions Research program expenses 267,400 215,600 267,400 215,600 1,282,700 751,900 33,800 Short-term investments Supplies inventory Totals Required: $18,183,400 $18,183,400 a. Prepare closing entries for the year-end, using separate entries for each net asset classification. b. Prepare a Statement of Activities for the year ended December 31, 2024.