The Village of Parry reported the following for its Print Shop Fund for the year ended April 30, 2017. VILLAGE OF PARRY-PRINT SHOP FUND Statement of Revenues, Expenses, and Changes in Net Position For the Year Ended April 30, 2017 Operating revenues: Charges for services $1,110,000 Operating expenses: Salaries and benefits $500,000 Depreciation 303,000 Supplies used 202.000 Utilities 72,700 Total operating expenses 1,077,700 Income from operations 32,300 Nonoperating income (expenses): Interest revenue 3,400 Interest expense (5,500) Total nonoperating expenses (2,100) Income before transfers 30,200 Transfers 190,000 Changes in net position 220,200 Net position-beginning 1,124,000 Net position-ending $1,344.200 The Print Shop Fund records also revealed the following: 1. Contribution from General Fund for working capital needs 2. Contribution from General Fund for purchase of equipment 3. Loan (interest-free) from Water Utility Fund for purchase of equipment 4. Purchase of equipment 5. Purchase of one-year investments 6. Paid off a bank loan outstanding at May 1, 2016 The loan was for short-term operating purposes and was the only interest-bearing debt outstanding 7. Signed a capital lease on April 30, 2017 $ 86,000 104,000 304,000 (504,000) (54,000) (66,300) $ 47,900 The following balances were observed in current asset and current liability accounts. ( ) denote credit balances: Cash Accrued interest receivable Due from other funds Supplies Accrued salaries and benefits Utility bills payable Accounts payable (for supplies only) Accrued interest payable Bank loan payable 5/1/2016 $196,700 300 40,000 0 (26,000) (5,200) (39,000) (2,800) (66,300) 4/30/2017 $383,100 800 58,000 0 (36,000) (8,000) (31,000) 0 0 Prepare a Statement of Cash Flows for the Village of Parry Print Shop Fund for the year ended April 30, 2017. Include the reconciliation of operating income to net cash provided by operating activities. (Amounts to be deducted should be indicated by a minus sign.) The Village of Parry reported the following for its Print Shop Fund for the year ended April 30, 2017. VILLAGE OF PARRY-PRINT SHOP FUND Statement of Revenues, Expenses, and Changes in Net Position For the Year Ended April 30, 2017 Operating revenues: Charges for services $1,110,000 Operating expenses: Salaries and benefits $500,000 Depreciation 303,000 Supplies used 202.000 Utilities 72,700 Total operating expenses 1,077,700 Income from operations 32,300 Nonoperating income (expenses): Interest revenue 3,400 Interest expense (5,500) Total nonoperating expenses (2,100) Income before transfers 30,200 Transfers 190,000 Changes in net position 220,200 Net position-beginning 1,124,000 Net position-ending $1,344.200 The Print Shop Fund records also revealed the following: 1. Contribution from General Fund for working capital needs 2. Contribution from General Fund for purchase of equipment 3. Loan (interest-free) from Water Utility Fund for purchase of equipment 4. Purchase of equipment 5. Purchase of one-year investments 6. Paid off a bank loan outstanding at May 1, 2016 The loan was for short-term operating purposes and was the only interest-bearing debt outstanding 7. Signed a capital lease on April 30, 2017 $ 86,000 104,000 304,000 (504,000) (54,000) (66,300) $ 47,900 The following balances were observed in current asset and current liability accounts. ( ) denote credit balances: Cash Accrued interest receivable Due from other funds Supplies Accrued salaries and benefits Utility bills payable Accounts payable (for supplies only) Accrued interest payable Bank loan payable 5/1/2016 $196,700 300 40,000 0 (26,000) (5,200) (39,000) (2,800) (66,300) 4/30/2017 $383,100 800 58,000 0 (36,000) (8,000) (31,000) 0 0 Prepare a Statement of Cash Flows for the Village of Parry Print Shop Fund for the year ended April 30, 2017. Include the reconciliation of operating income to net cash provided by operating activities. (Amounts to be deducted should be indicated by a minus sign.)
