Answer Happy

1 The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020: 100 points Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities Capital assets, net, governmental activities Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities General obligation bonds, governmental activities Revenue bonds, business-type activities Long-term liability for compensated absences, governmental activities S 450,000 947,000 534,000 1,577,080 618,000 16,843,000 8,437,000 771,000 664,000 9,265,000 3,812,000 427,000 From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $657,000 for governmental activities and $225,000 for business-type activities. (Negative amounts should be indicated by a minus sign) CITY OF SOUTHERN SPRINGS Statement of Net Position As of April 30, 2020 Governmental Activities Business-Type Activities Total Assets: Total Assets Liabilities: Total Liabilities Net Position: Total Net Position