A balance sheet of Blue University, a not-for-profit institution, is shown as follows. This balance sheet was drawn from the university€™s internal accounts, which are maintained according to the 1973 AICPA model fund structure. Recast the fund balances (net assets) section of the balance sheet so that it conforms to the net assets section of a balance sheet per FASB Statement No. 117. Assume that the balance sheet reports all amounts in a single column (i.e., as in the totals column of the balance sheet presented). However, divide the net assets section into three separate sections, each of which conforms to one of the three categories of restrictiveness required by Statement No. 117. Report each fund balance (category of net assets) on the new balance sheet within one of the three categories. Make appropriate assumptions as to the type of restriction that applies to each of the funds.

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Blue University Balance Sheet as of June 30, 2013 (in thousands) Current L Endowment Plant funds Total funds funds funds Axsets $110,922 $45,268 S 590 61,555 3,509 456,126 42,335 145 Cash 507,503 9,042 15,070 14,499 26,000 Accounts receivable Notes receivable Inventories and pre-paid expenses Land, buildings, and equipment 426 26,000 5,047 5,047 196,897 11338 376 3,323 (1L285) $521,004 $231601 (less accurmulated depreciation) 196,897 Due from (to) other funds Total assets $861432 85,194 $23.640 Liabilities and fisnd balances: Accounts payahle Deferred revenues Agency accounts Bonds payable accrued liabilities 6,597 2,355 S 29,788 $20,836 5,424 5,424 10,375 10,375 88,399 6.59790,754 88.399 Total lialities 133,986 36,635 Fund balances: urrent funds Designated Restricted 20,445 20,445 28,114 28,114 Student loans funds established by gift and 23,640 23,640 Endowment and similar funds Unrestricted quasi-endvment funds Restricted endowment funds Other endowment funds Life income funds 59,644 68,352 369,399 17,012 59,614 68,352 369,399 17,012 Plant funcs 19,452 6,306 115,089 727453 48,55223,640 514407 140,847 $521,004 $231,601 19,452 6,306 15,089 _ Retirement of indehtedness Netinvestment in plant Total fund balances Total liabilties and fund balances $861,439 $85,94 $23,640