The Ombudsman Foundation is a private not$-$for$-$profit organization providing training in dispute resolution and conflict management. Required $A$

Required B

Required $C$

Prepare closing entries for the year$-$end, using separate entries for each net asset classification. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

$\backslash$table$[[$No$,$Event,General Journal,Debit,Credit$],[1,1,$Reclassification to Net Assets without Donor Restrictions$-$Expiration of Time,$215,600,],[,$Reclassification to Net Assets without Donor Restrictions$-$Satisfaction of Pros,$267,400,],[,$Contributions$-$without Donor Restrictions,$2,492,000,],[,$Program Service Revenue$-$without Donor Restrictions,$5,978,100,],[,$Net Gains on Endowment Investments$-$without Donor Restrictions,$18,200,],[,$Contributed Services$-$without Donor Restrictions,$26,900,],[,$Training Seminar Expense,,$4,706,800],[,$Education Program Expense,,$1,590,200],[,$Research Program Expense,,$1,301,200],[,$Management and General Expense,,$399,600],[,$Fund$-$Raising Expense,,$122,000],[,$Net Assets$-$without Donor Restrictions,,$],[2,2,$Contributions to Programs$-$with Donor Restrictions,$824,000,],[0,$Investment Revenue $-$with Donor Restrictions,$90,600,],[,$Contributions to Endowment$-$with Donor Restrictions,$2,622,000,],[,$Reclassification from Net Assets with Donor Restrictions $-$ Expiration of Tim V$,,215,600],[,$Reclassification from Net Assets with Donor Restrictions$-$Satisfaction of P$,$r$,,267,400],[,$Net Assets$-$with Donor Restrictions,,$966,400\backslash$times $]]$

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Next $\backslash$table$[[$Statement of Activities$],[$For the Year Ended December $31,2020],[,\backslash$table$[[$Net Assets$],[$without$],[$Donor$],[$Restrictions$]],\backslash$table$[[$Net Assets$],[$with Donor$],[$Restrictions$]],$Total$],[$Revenues$],[$Program Service Revenue,$$5,978,100,,$$$5,978,100],[$Contribution Revenues,$2,492,000,824,000\backslash$times $,3,316,000],[$Contributed Services,$26,900,,26,900],[$Investment Revenue,,$90,600,90,600],[$Net Gains on Endowment Investments,$18,200\backslash$gamma $,,18,200],[$Net Assets Released from Restriction$],[$Satisfaction of Time Restrictions,$215,600,(215,600),0],[$Satisfaction of Program Restrictions,$267,400,(267,400)$vv$,0],[$Total Revenues,$8,998,200,431,600,9,429,800],[$Expenses$],[$Training Seminar Expenses,$4,706,800,,4,706,800],[$Education Program Expenses,$1,590,200,,1,590,200],[$Research Program Expenses,$1,301,200,,1,301,200],[$Total Program Service Expenses,$7,598,200,0,7,598,200],[$Fund$-$Raising Expenses,$122,000,,122,000],[$Management and General Expenses,$399,600,,399,600],[$Total Supporting Service Expenses,$521,600,0,521,600],[$Total Expenses,$8,119,800,0,8,119,800],[$Increase in Net Assets,$878,400,431,600\backslash$times $,1,310,000],[\backslash$table$[[$Net Assets January $1]],,,0],[$Net Assets December $31,878,400,431,600,$$$1,310,000]]$ c$.$ Prepare a Statement of Financial Position as of December $31,2020.$

Answer is not complete.

Complete this question by entering your answers in the tabs below.

Required $A$

Required B

Required C

Prepare a Statement of Financial Position as of December $31,2020.$

$\backslash$table$[[$OMBUDSMAN FOUNDATION$],[$Statement of Financial Position$],[$As of December $31,2020],[$Current Assets:$],[$Cash$,$V$,114,900,],[$Short$-$term Investments,$0,751,700,],[$Supplies Inventories,$(,32,800,],[$Receivables:$],[$Accounts Receivable $($net$),(,47,900,],[$Pledges Receivable $($net$),(,79,100,],[$Accrued Interest Receivable,$0,16,700,],[$Total Current Assets,,,$$1,043,100],[$Noncurrent Assets:$],[$Pledges Receivable $($net$),(,,],[$Long$-$term Investments,$(2),2,840,300,],[$Land$,$ Buildings, and Equipment $($net$),(,2,401,700,],[$Total Noncurrent Assets,,,$]]$

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points

$\backslash$table$[[$Accounts Receivable $($net$),(,47,900,],[$Pledges Receivable $($net$),,79,100,],[$Accrued Interest Receivable,$(,16,700,],[$Total Current Assets,,,$$1,043,100],[$Noncurrent Assets:$],[$Pledges Receivable $($net$),2,,],[$Long$-$term Investments,$(,2,840,300,],[$Land$,$ Buildings, and Equipment $($net$),$V$,2,401,700,],[$Total Noncurrent Assets,,,$5,242,000],[$Total Assets,,,$$6,285,100],[$Current Liabilities:$],[$Accounts Payable,ox$\backslash$Phi $,24,600,],[$Total Current Liabilities,,,$24,600],[$Noncurrent Liabilities:$],[$Post$-$employment Benefits Payable,$0,200,900,],[$Total Noncurrent Liabilities,,,$200,900],[$Total Liabilities,,$$,3225,500],[$Net Assets:"$],[$Without Donor Restrictions,V$,,],[$With Donor Restrictions,o$.,,],[$Total Net Assets,,$$,0],[$Total Liabilities and Net Assets,,$$,5225,500]]$

The Foundation had the following preclosing trial balance at December $31,2020,$ the end of its fiscal year:

Required:

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 $31,2020.$

c$.$ Prepare a Statement of Financial Position as of December $31,2020.$