Vaughn issued an 9%, 10-year $2,000,000 bond to build a monorail mass transit system. The city received $1,764,431 cash from th bond issuance on January 1, 2025. The bond yield is 11%. Interest is paid annually on December 31 of each year. Disclosure information about capital assets is reported below. Disclosure of Information about Capital Assets for the Year Ending December 31, 2025 Primary Government Governmental Activities Beginning Balance Ending Additions Retirements Balance Land $500,000 $500,000 Building 760,000 760,000 Machinery and Equipment 950,000 $(225,000) 725,000 Construction in Progress $1,510,000 1,510,000 Infrastructure 450,000 450,000 Totals at historical cost $2,660,000 $1,510,000 $(225,000) $3,945,000 Less accumulated depreciation Building (191,000) (58,750) (249,750) Machinery and Equipment (235,000) (75,650) 139,000 (171,650) Infrastructure (50,000) (34,100) (84,100) Total accumulated depreciation $(476,000) $(168,500) $139,000 $(505,500) Governmental activities capital assets, net $2,184,000 $1,341,500 $(86,000) $3,439,500 Depreciation expense charged to governmental activities as follows: Public Safety $55,000 General Government 72,000 Highways and Streets 24,000 Sanitation 17,500 $168,500 Vaughn's governmental funds financial statements are as follows: Vaughn Governmental Funds Fund Balance Sheets at December 31, 2025 Capital Debt Total Projects Service Governmental Fund Fund Funds General Monorail Term Bond Assets Fund Fund Fund Cash $65,000 $301,000 $366,000 Interest Receivable 11,000 3,000 14,000 Investments 98,000 1,255,000 98,000 1,451,000 Property Tax Receivable 190,000 190,000 Total Assets $353,000 $1,567,000 $101,000 $2,021,000 Liabilities and Fund Balance Vouchers Payable $72,000 $49,000 $121,000 Total Liabilities $72,000 $49,000 $121,000 Fund Balances: Restricted for: Capital projects 1,518,000 1,518,000 Debt Service 101,000 101,000 Assigned for encumbrance 193,000 193,000 Unassigned 88,000 88,000 Total Fund Balance 281,000 1,518,000 101,000 1,900,000 Total Liabilities and Fund Balances $353,000 $1,567,000 $101,000 $2,021,000 Vaughn Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances for the Year Ended December 31, 2025 Capital Projects Debt Service Total Governmental Fund Fund Funds General Fund Monorail Fund Term Bond Revenues Property Taxes $525,000 Licenses and Permits* 150,000 State Grant-highways and streets 250,000 $1,000,000 Intergovernmental-state grant Charges for Services (general 130,000 government) Investment Earnings Total Revenue Expenditures $50,000 $575,000 150,000 250,000 1,000,000 130,000 75,000 75,000 $1,130,000 $1,000,000 $50,000 $2,180,000 Public Safety $500,000 General Government 300,000 Highways and Streets 130,000 Sanitation 70,000 Debt Service Interest Capital Outlay Total Expenditures $500,000 300,000 130,000 70,000 $180,000 180,000 $1,510,000 1,510,000 $1,000,000 $1,510,000 $180,000 $2,690,000 Excess (deficiency) of revenues over expenditures $130,000 ($510,000) ($130,000) ($510,000) Other Financing Sources (Uses) Proceeds from long-term capital debt $1,764,431 $1,764,431 Transfers in $180,000 180,000 Transfers out $(180,000) (180,000) Total other $(180,000) $1,764,431 $180,000 $1,764,431 Special Items Proceeds from sales of equipment $115,000 $115,000 Net change in fund balance 65,000 1,254,431 50,000 1,369,431 Fund balance-beginning 189,000 263,569 78,000 530,569 Fund balance-ending $254,000 $1,518,000 $128,000 $1,900,000 *Revenues from licenses and permits are assigned to highways and streets ($100,000) and to the general government ($50,000). Using the information above, prepare the statement of activities and the statement of net position on a government-wide basis (using full accrual accounting). The beginning fund balance in the government-wide Statement of Net Position is $2,714,569. (Round answers to O decimal places. e.g. 5,125.) Assets Vaughn Statement of Net Position - Government-Wide Basis At December 31, 2025 Liabilities and Fund Balance $ Net Position Total $ Governmental Funds Adjustments $ $ $ $ $ $ $ Statement of Net Position Total Government Activities