The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2017, 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				$	100,000
Accounts receivable	$	25,000
Accrued interest payable					28,000
Accumulated depreciation					45,000
Administrative and selling expenses		47,000
Allowance for uncollectible accounts					12,000
Capital assets		705,000
Cash		90,000
Charges for sales and services					550,000
Cost of sales and services		492,000
Depreciation expense		45,000
Due from General Fund		17,000
Interest expense		40,000
Interest revenue					4,000
Transfer in from General Fund					115,000
Revenue bonds 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.)

Required Informetlon The following information applies to the questions displayed below The Village of Seaside Pines prepared the followlng enterprise fund Trial Balance as of December 31, 2017, 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 Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Revenue bonds payable Supplies inventory 10e,880 $ 25,880 28,800 45, 808 47,eee 12,800 785,80 98,800 55e, 8ee 492,888 45, 80e 17,eee 48,80e 4,880 115,8e0 625,888 18,88 Totals $1,479, 800 $1,479,88e 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 acqulre capital assets and there are no restricted assets.)