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: Debits Credits 24,000 $ $ 47,100 16,700 3,323,400 112,100 26,200 2,428,000 802,000 2,381,300 77,000 1,548,100 118,800 88, 200 4,582,400 5,655,500 2,765,200 397,600 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 Education program expenses Fund-raising expenses Investment revenue-purpose restrictions Training seminars expenses Land, buildings, and equipment 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 467,000 2,036,000 17,800 390, 200 5,978,100 200,900 267,400 215,600 267,400 215,600 1,278,700 751,100 32,400 $18, 255,900 $18, 255, 900 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