Reference no: EM132458408

Problem - Southern State University had the following account balances as of June 30, 2015. Debits are not distinguished from credits, so assume all accounts have a "normal" balance:

Accounts receivable $354,000

Accounts Payable $265,000

Cash and Cash Equivalents $120,000

Accrued Interest Payable $225,000

Endowment Investments $6,126,000

General Obligation Bonds Payable (Related to Capital Acquisition) $1,350,000

Inventories $333,000

Short-Term Investments--Unrestricted $1,444,000

Net Position--Restricted--Nonexpendable $6,126,000

Restricted Cash and Cash Equivalents $92,000

Capital Assets, Net of Depreciation $7,223,000

Revenue Bonds Payable (Related to Capital Acquisition) $2,200,000

Long-Term Investments $1,683,000

Long-Term Liabilities--Current Portion (Related to Capital Acquisition) $200,000

Net Position--Restricted--Expendable $1,900,000

Net Investment in Capital Assets $?

Net Positions--Unrestricted $?

Required: Prepare, in good form, a Statement of Net Position for Southern State University as of June 30, 2015.