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 Balance-December 31, 2020 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 $ 25,300 $ 48,690 16,700 3,502,200 117,400 27,100 2,492,000 846,000 2,872,000 51,300 Education program expenses 1,631,300 Fund-raising expenses 125,600 Investment revenue-purpose restrictions 93,200 Training seminars expenses 4,329,200 Land, buildings, and equipment 5,969,590 Long-term investments Management and general expenses Net assets without donor restrictions Net assets with donor restrictions Net gains on endowments no restrictions Noncurrent pledges receivable Program service revenue no restrictions Post-employment benefits payable (long-term) Reclassification-Satisfaction of program restrictions Reclassification-Satisfaction of time restrictions Reclassification-Satisfaction of program restrictions Reclassification-Satisfaction of time restrictions Research program expenses Short-term investments Supplies inventory Totals 2,915,300 395,000 496,400 2,068,900 18,700 390,200 5,978,100 200,900 267,400 219,100 267,400 219,100 1,323,300 752,000 33,300 $19,107,300 $19,107,300 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. Complete this question by entering your answers in the tabs below. 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.)