1. The village of Hampton had the following post-closing trial balance at December 31, 2019:

• Cash: 42,500

• Property tax receivable delinquent (net): 36,000

• Interest and penalties receivable: 500

• Due from other governments: 12,000

• Prepaid assets: 11,000

• Advances to other funds: 24,000

• Vouchers payable: 25,000

• Accrued liabilities: 16,000

• Deferred inflows of resources-unavailable interest: 9,000

• Deferred inflows of resources-unavailable interest and penalties: 200

• Fund balance: ?

Additional information as of December 31, 2019:

• The village received a cash grant of $38,000 from the department of homeland security during 2019. The purpose of the grant was to train the villages police force to combat terrorism. The grant has no time restrictions. The village spent $29,000 of the grant during 2019.

• The advances to other funds will be collected in three installments of $8,000 each, starting in 2020

• The village received $15,000 from a private citizen in late December, 2019, who stipulated that the money be used only to purchase bullet-proof vests for police officers. The village will purchase the vests in 2020.

• The finance director decided that it would be fitting to honor the military veterans living in the village with a bronze memorial military figurine displayed in front of the village hall. The estimated cost of the memorial is $7,000, and the finance director intends to contract the work to a local artist in 2020.

Required:

Prepare the general fund balance sheet for the village of hampton on December 31, 2019.