The Finance Director of the City of Wrong Way has asked for your assistance in reviewing the Statement of Net Position that he has prepared for the year ended June 30, 20X9. The statement is shown below.

Additional Information
1. The city has multiple governmental and proprietary funds. Its only fiduciary fund is a pension plan. It has four component units. All fund and component unit statements were prepared correctly.
2. All amounts disclosed for depreciable and nondepreciable capital assets in the city€™s Capital Assets Schedule are considered material, individually and in total.
3. Bonds for $10,000 were issued at the end of the year in a private placement (no premium, discount, or bond issue costs). All bonds have been issued for capital asset acquisition.

Required
Identify the errors in the Statement of Net Position. Explain why each item you find isincorrect.

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Government Governmenta Enterprise Fiduciary Component Reporting Activities Funds Activities Total ASSETS $36,343 83,147 14544 $134,034 26,348 160382 82,099 844,996 994,313 78,628 1,072,941 145,410 Cash Investments Due from Federal Government Taxes Receivable (net)... Penalties and Interest Receivable (net) 37,098 Capital Assets (net) Accounts Receivable (net) Accrued Interest Receivable Restricted Cash-Construction Inventory of Materials and Supplies Prepaid Rent Internal Balances Due from Special Revenue Fund Due from General Fund. Due from Golf Course Enterprise Fund 145,410 98,364 37,098 ,081 64,329 98,364 268,448 3,215 71,894 37,098 816,783 16,936 51,358 10,000 130,977 7,243 516,668 290,115 50,720 18,048 167,349 4,587 4,517 40,005 47,737 88,460 - 24,982 13,624 6,412 5,613 24,982 24,982 .624 6,412 $,613 5,217 5,217 Total Assets 797891 462,554 1,034,836 2,295 281 449,631 2,744,912 744912 LIABILITIES Current Liabilities Vouchers Payable Accrued Salaries and Wages Payable . ..27,434 Contracts Payable-Retained Percentage 4,097 Accrued Interest Payable Due to General Fund Due to Capital Projects Fund:5,613 Due to Water Utility Enterprise Fund. 37,255 51,912 15,645 104,812 56,166 5,010 6,200 2,009 10,051 160,978 73,463 26,002 5,017 68,453 2,103 5,131 4,802 6412 19,984 6,412 5,613 5,217 14,795 35,195 55,093 5,217 14.795 Unearned Operating Grant Revenues98,783 Unearned Capital Grant Revenues 14,795 133,978 115,342 60,249 17,106 132.448 Long-term Liabilities Bonds Payable Bond Premium Bond Discounts Compensated Absences. Claims and Judgments 359,509 5,817 2,993 135,474 152,259 55.390 833,606 488,885 1,322,941 169,707 189,802 5,817 2,993 6,250 24,728 05,0 30,463 11,168- 4,033 79,323 72,936 Total Liabilities . ..-. . 475,759 32457 55390 833,606 488,885 1,322,941 DEFERRED INFLOWS OF RESOURCES Deferred Revenue (Availability Criterion)147,500 147,500 NET POSITION 179,522 (15,023) 10,133 100225 862,203972,561 139,567) 832,994 47,372 117,243344,137 100,313 12,500 444.450 Investment in Capital Assets. Restricted for Debt Service... Unrestricted (2,523) $174,632 $160,097 S979,446 $1,314,175 39,254 $1,274,921