The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund.

	Debits			Credits
Accounts payable				$	96,000
Accounts receivable	$	32,000
Accrued interest payable					28,000
Accumulated depreciation					45,000
Administrative and selling expenses		47,000
Allowance for uncollectible accounts					12,000
Capital assets		712,000
Cash		89,000
Charges for sales and services					550,000
Cost of sales and services		479,000
Depreciation expense		45,000
Due from General Fund		17,000
Interest expense		40,000
Interest revenue					4,000
Transfer in from General Fund					119,000
Bank note payable					625,000
Supplies inventory		18,000
Totals	$	1,479,000		$	1,479,000

Required: a. Prepare the closing entries for December 31. b. Prepare the Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31. c. Prepare the Net Position section of the December 31 balance sheet. (Assume that the revenue bonds were issued to acquire capital assets and there are no restricted assets.)