The Town of Portsmouth has at the beginning of the year a $$213,000$ Net Position balance, and a $$52,000$ Fund Balance.

The following information relates to the activities within the Town of Portsmouth for the year of $2024.$

Receipts:

Property Taxes $ $400,000$

Income Taxes $100,000$

Fees charged to business owners for Public Safety $7,000$

Fees charged to citizens for Sanitation $5,000$

Payments:

Salaries

General Government $ $54,000$

Public Safety $43,000$

Sanitation $36,000$

Rent

General Government $15,000$

Public Safety $12,000$

Sanitation $3,500$

Maintenance

General Government $4,000$

Public Safety $2,000$

Sanitation $1,500$

Insurance

General Government $1,000$

Public Safety $2,500$

Sanitation $4,500$

Final Payment on Debt Principal $5,000$

Payment for Interest on Debt $15,000$

Receivables at the end of the year:

Property Taxes $(80\%$ estimated to be collectible$)$ $ $95,000$

Payables at year$-$end: Salaries

General Government $ $4,000$

Public Safety $3,000$

Sanitation $4,400$

Other items at year$-$end:

Cash $ $130,900$

Building $95,000$

Equipment $80,000$

Supplies Inventory $9,500$

Investments $160,000$

Year$-$end utility and maintenance expenses, expected to be paid in $2$ months $9,000$

Prepare a Statement of Activities for the year ended December $31,2024$