The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable. Debits $30,000 Credits $102,500 Accrued interest payable. 28,000 Accumulated depreciation 47,500 Administrative and selling expenses 47,000 Allowance for uncollectible accounts 14,500 Capital assets 717,000 Cash 89,000 Charges for sales and services 561,000 Cost of sales and services Depreciation expense Due from General Fund 485,500 45,000 17,000 Interest expense 40,000 Interest revenue Transfer in from General Fund Bank note payable 4,000 119,000 612,000 Supplies inventory Totals 18,000 $1,488,500 $1,488,500 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.) Complete this question by entering your answers in the tabs below. Required A Required B Required 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.) Net Position: VILLAGE OF SEASIDE PINES ENTERPRISE FUND Statement of Net Position December 31, 2024 Net Investment in Capital Assets Unrestricted Total Net Position $ 0