Reference no: EM131831611

Problem - Presented below is the information for the governmental activities for the Town of Whitby for the year ended December 2011. Prepare in good form a statement of activities for governmental activities only for 2011.

General property taxes revenue $13,000,000

Unrestricted grants 4,000,000

Restricted grants for public safety 1,200,000

Capital grants for highways 300,000

Increase in fair value of investments 70,000

Interest on investments 108,000

Principal paid on general long-term liabilities 1,100,000

Interest expense on general long-term liabilities 100,000

Expenses:

Expenses of general administration 1,700,000

Expenses for public safety 4,200,000

Expenses for highways and streets 2,100,000

Expenses for health and welfare 3,000,000

Fees charged for health and welfare programs 270,000

Transfer to Enterprise Fund 2,500,000

Collection of interfund advance to Enterprise Fund established three years ago 1,000,000

Proceeds from sale of capital assets (book value of $25,000) 7,000

Net assets, governmental activities, January 1, 2011 $3,017,000