Reference no: EM132806816

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:

Cash and cash equivalents, governmental activities= $440,000
Cash and cash equivalents, business activities= $926,000
Receivables, governmental activities= $522,000
Receivables, business activities= $1,542,000
Inventories, business activities= $604,000
Capital assets, net, governmental activities= $15,680,000
Capital assets, net, business activities= $8,246,000
Accounts payable, governmental activities= $754,000
Accounts payable, business activities= $649,000
General obligation bonds, governmental activities= $9,056,000
Revenue bonds, business activities= $3,726,000
Long-term liability for compensated absences, governmental activities= $417,000

Problem 1: Prepare the Statement of Net Position for the City of Southern Springs as of April 30, 2020.