The year-end pre-closing trial balance for the Chance County Woodland Park Capital Projects Fund is provided below. Debits Credits Cash 987,000 Grant Receivables Investments Contract Payable 600,000 1,000,000 $1,263,500 Contract Payable - Retained Percentage Encumbrances Outstanding 66,500 1,625,000 Revenues 707,000 Encumbrances 1,625,000 Construction Expenditures 4,150,000 Other Financing Sources - Proceeds of Bonds 4,700,000 $8,362,000 $8,362,000 Required a. Prepare the year-end statement of revenues, expenditures, and changes in fund balances for the capital projects fund. Revenues CHANCE COUNTY Woodland Park Capital Projects Fund Statement of Revenues, Expenditures, and Changes in Fund Balances Expenditures: For the Year End Excess of Revenues Over (Under) Expenditures Other Financing Sources: Excess of Revenues and Other Financing Sources/Uses Over Expenditures Fund Balances, Beginning Fund Balances, Ending CHANCE COUNTY Woodland Park Capital Projects Fund Statement of Revenues, Expenditures, and Changes in Fund Balances Revenues For the Year End Expenditures: Excess of Revenues Over (Under) Expenditures Other Financing Sources: Excess of Revenues and Other Financing Sources/Uses Over Expenditures Fund Balances, Beginning Fund Balances, Ending b. Has the capital project been completed? Yes No