Reference no: EM13872464

The City of Breukelen maintains a rapid transit system, which is accounted for in a proprietary fund called Breukelen RTS. The following excerpt from the trial balance shows all the information needed to prepare an operating statement. Therefore, prepare a statement of revenues, expenses, and changes in fund net position for the Breukelen RTS for the year ended December 31, 2012, using the appropriate format.
Revenues from fares ............ $ 3,150,000
Train operating expenses........... 2,430,000
Track and train maintenance expenses.... 565,000
Depreciation ............... 325,000
Investment income ............ 50,000
Interest expense on long- term debt..... 320,000
Cash subsidy from the City of Breukelen .. 500,000
Net assets, January 1, 2012 ........... 7,430,000