Reference no: EM133116681
Question - The Village of Shelburne operates a nine-hole golf course as an enterprise fund. You are provided with the following information for the current year:
1. Net income for the year was $161,551.
2. The beginning net position balances are net investment in capital assets, $585,460; restricted, $5,080; and unrestricted, $254,830.
3. New golf carts were leased. The present value of the lease liability is $200,070. A principal payment of $40,060 was made during the year, and amortization of the leased asset totaled $37,580.
4. Lawn edging equipment with a carrying value of $6,200 was sold for $6,400.
5. A new lawn mower was purchased for $75,000. At the end of the year, a $25,000 note associated with the machine remains outstanding. Depreciation of the mower was $7,500.
6. Additional depreciation totaled $30,000.
Required - Prepare the net position section of Shelburne's statement of net position.
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