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				$	113,000
Accounts receivable	$	29,900
Accrued interest payable					33,100
Accumulated depreciation					51,500
Administrative and selling expenses		53,500
Allowance for uncollectible accounts					13,500
Capital assets		724,000
Cash		98,300
Charges for sales and services					571,000
Cost of sales and services		505,000
Depreciation expense		51,500
Due from General Fund		17,800
Interest expense		41,000
Interest revenue					6,000
Transfer in from General Fund					124,100
Bank note payable					628,700
Supplies inventory		19,900
Totals	$	1,540,900		$	1,540,900

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.)