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The Town of Soulsville has at the beginning of the year a $213,000 Net Asset balance and a $52.000 Fund Balance The following information relates

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The Town of Soulsville has at the beginning of the year a $213,000 Net Asset balance and a $52.000 Fund Balance The following information relates to the activities within the town of Portsmouth for the year of 2018. Receipts: Property Taxes Franchise Taxes Charges for Public Safety Charges for Sanitation $ 100.000 100.000 7.000 5,000 Payments: Salaries General Government Public Safety Santation $ 54.000 43,000 36.000 15.000 12.000 3.500 4.000 2.000 1,500 General Government Public Safety Sanitation Maintenance General Government Public Safety Sanitation Insurance General Government Public Safety Santion Final Payment on Debt Principal Payment for Interest on Debt 1.000 2.500 4 500 5,000 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 Public Safety Sanitation 4,400 Other items at year-end: Cash Building Equipment Supplies Inventory Investments Compensated absences balance, expected to be paid in 12 months $130.900 95.000 90.000 9.500 160,000 9,000 REQUIRED Prepare a Statement of Revenues, Expenditures and Changes in Fund Balances

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