The Village of Parry reported the following for its Print Shop Fund for the year ended April 30, 2020. VILLAGE OF PARRY-PRINT SHOP FUND Statement of Revenues, Expenses, and Changes in Net Position For the Year Ended April 30, 2020 Operating revenues: Charges for services $1,118,000 Operating expenses: Salaries and benefits $508,000 Depreciation 307,800 Supplies used 206,000 Utilities 73,900 Total operating expenses 1,095,700 Income from operations 22,300 Nonoperating income (expenses) : Interest revenue 4,100 Interest expense (6,000) Total nonoperating expenses (1,900) Income before transfers 20,400 Transfers in 212,000 Changes in net position 232,400 Net position-beginning 1,128,000 Net position-ending $1,360,400 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, 2019 The loan was for short-term operating purposes and was the only interest-bearing debt outstanding 7. Signed a capital lease on April 30, 2020 $ 100,000 112,000 309,000 (508,000) (58,000) (77,300) $ 56,700 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 5/1/2019 $244,500 300 40,000 0 (31,000) (6,200) (46,500) (7,800) (77,300) 4/30/2020 $430,000 1,200 62,000 0 (41,000) (14,000) (39,000) 0 0 Prepare a Statement of Cash Flows for the Village of Parry Print Shop Fund for the year ended April 30, 2020. Include the reconciliation of operating income to net cash provided by operating activities. (Amounts to be deducted should be indicated by a minus sign.) VILLAGE OF PARRY - PRINT SHOP FUND Statement of Cash Flows For the Year Ended April 30, 2020 Cash Flows from Operating Activities: Cash Received from Departments Cash Paid for Salaries and Benefits Cash Paid to Suppliers Cash Paid for Utilities 0 Net Cash Provided by Operating Activities Cash Flows from Noncapital Financing Activities: Payment of Bank Loan Principal Payment of Interest Transfer from General Fund for Working Capital Needs 0 Net Cash Provided by Noncapital Financing Activities Cash Flows from Capital and Related Financing Activities: Transfer from General Fund for Equipment Purchases Loan from Water Utility Fund Purchase of Equipment Net Cash Used for Capital and Related Financing Activities 0 0 Net Cash Used for Capital and Related Financing Activities Cash Flows from Investing Activities: Collection of Interest Purchase of Investments 0 Net Cash Used for Investing Activities Net Increase in Cash and Cash Equivalents Cash and Cash Equivalents, May 1, 2019 Cash and Cash Equivalents, April 30, 2020 $ 0 econciliation of Operating Income to Net Cash Provided by Operating Activities: Operating Income Adjustments: Depreciation Expense Increase in Receivables from Other Funds Increase in Salaries and Benefits Payable Decrease in Accounts Payable Increase in Utility Bills Payable 0 Net Cash Provided by Operating Activities $ Noncash Investing, Capital Related Financing and Noncapital Related Financing Activities: Capital Lease of Equipment