The Ombudsman Foundation is a private not-for-profit organization providing training in dispute resolution and conflict management. The Foundation had the following preclosing trial balance at December 31, 2020, the end of its fiscal year:

Trial BalanceDecember 31, 2020		Debits			Credits
Accounts payable				$	23,500
Accounts receivable (net)	$	45,000
Accrued interest receivable		15,500
Accumulated depreciation					3,250,500
Cash		109,000
Contributed services					35,000
Contributionsno restrictions					2,300,000
Contributionspurpose restrictions					780,000
Contributionsendowment					2,650,000
Current pledges receivable		75,000
Education program expenses		1,555,000
Fund-raising expenses		116,000
Investment revenuepurpose restrictions					86,000
Training seminars expenses		4,456,000
Land, buildings, and equipment		5,500,000
Long-term investments		2,690,000
Management and general expenses		365,000
Net assets without donor restrictions					448,000
Net assets with donor restrictions					1,909,000
Net gains on endowments - no restrictions					17,500
Noncurrent pledges receivable		365,000
Program service revenue - no restrictions					5,592,000
Post-employment benefits payable (long-term)					188,000
ReclassificationSatisfaction of program restrictions		250,000
ReclassificationSatisfaction of time restrictions		205,000
ReclassificationSatisfaction of program restrictions					250,000
ReclassificationSatisfaction of time restrictions					205,000
Research program expenses		1,206,000
Short-term investments		750,000
Supplies inventory		32,000
Totals	$	17,734,500		$	17,734,500

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.