(Solved): please fill in the blanks and correct the incorrect. write it in the same format. Exercise 8.7 (Alg ...

please fill in the blanks and correct the incorrect. write it in the same format. Exercise 8.7 (Algo) The following information Is avallable for the preparation of the government-wide financial statements for the Clity of Southern Springs as of Aprll 30, 2020: \table[[Cash and cash equivalents, governnental activities,410,690],[Cash and cash equivalents, business-type activities,863,990],[Receivables, goverrmental activities,486,090],[Receivables, business-type activities,1,436, e9e],[Inventories, business-type activities,562,090],[Capital assets, net, governmental activities,14,590,090],[Capital assets, net, business-type activities,7,673,090],[Accounts payable, governmental activities,702,090],[Accounts payable, business-type activities,604,990],[General obligation bonds, governmental activities,8,428,090],[Revenue bonds, business-type activities,3,468,090],[Long-tern liability for compensated absences, governnental activities,388,990]] 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

for governmental actlvitles and

for business-type activitles. (Negatlve amounts should be indicated by a minus sign) Answer is not complete. \table[[CITY OF SOUTHERN SPRINGS],[Statement of Net Position],[As of April 30,2020],[,,\table[[Governmental],[Activities]],\table[[Business-Type],[Activities]],Total],[Assets:],[Cash and Cash Equivalents,0 :,410,000,863,0000,S 1,273,000],[Receivables,\theta ,486,000,1,436,000◯,1,922,000],[Inventories,0,,582,000◯,562,000],[Capital Assets, Net,\theta ,14,590,0000,7,673,0000,22,263,000],[,,,0],[Total Assets,,15,486,000,10,534,000,26,020,000],[Liabilities:],[Accounts Payable,\theta ,702,000◯,604,000◯,1,306,000],[Bonds Payable,0,8,428,000,,8,428,000],[Receivables,x,,3,468,000ox,3,468,000],[Compensated Absences Payable,0,388,0000,,388,000],[Total Liabilities,,9,518,000,4,072,000,13,590,000],[Net Position:],[,,,,0],[Restricted,\theta ,598,000,205,000◯,803,000],[Unrestricted,0,5,370,000⊛,6,257,000ox,11,627,000],[,,,0],[Total Net Position,,5,988,000,6,482,000,$12,430,000]]