This year Riverside began work on an outdoor amphitheater and concession stand at the city's park. It is to be financed by a $3.500.000 bond issue and supplemented by a $500,000 General Fund transfer. The following transactions occurred during the current year: 1. The General Fund transferred $500,000 to the Park Building Capital Projects Fund. 2. A contract was signed with Restin Construction Company for the major part of the project on a bid of $2,700,000. 3. Preliminary planning and engineering costs of $69.000 were vouchered for the Great Pacific Engineering Company. (This cost had not been encumbered.) 4. A payable was recorded for an $18.500 billing from the Water and Sewer enterprise fund for the cost of extending water pipes to the new concession stand. 5. An invoice in the amount of $1.000.000 was received from Restin for progress to date on the project. 7. The amount billed by the contractor (see Transaction 5) less 5 percent retained was paid. 8. Temporary investments were purchased at a cost of $1,800,000. 9. Closing entries were prepared as of year-end. Assume that $2,500,000 of the encumbrances outstanding will be paid from the bond proceeds and are therefore considered restricted resources. The remaining fund balance is assigned. b. Prepare a balance sheet for the Park Building Capital Projects Fund as of year-end. RIVER SIDE Park Building Capital Projects Fund Balance Sheet As of Year End Assets $ 0 Total Assets Liabilities and Fund Balances Liabilities: 0 Total Liabilities Fund Balances: 0 Total Fund Balances Total Liabilities and Fund Balances $ 0 c. Prepare a statement of revenues, expenditures, and changes in fund balances for the period. RIVERSIDE Park Building Capital Projects Fund Statement Of Revenues, Expenditures, and Changes in Fund Balances For the Year Ended Expenditures: Other Financing Sources and Uses: 0 0 Excess of Revenues and Other Sources Over Expenditures Fund Balances, Beginning Fund Balances, Ending s 0