Capital Region is a local government. It prepares general purpose financial statements in accordance with the CICA PSA Handbook. The following is a summarized adjusted trial balance for the year ending December 31, 2013 (amounts in thousands).

The following is a continuity analysis of Capital Region€™s tangible capital assets, net of accumulated amortization:
January 1, 2013 ........ $170,685,000
Additions .......... 22,250,000
Amortization ......... (12,000,000)
December 31, 2013 ....... $180,935,000
Capital Region controls a government business enterprise, the Capital Region Internet Service Provider Inc. (CRISP Inc.). The following information has been obtained from the audited financial statements of CRISP Inc., prepared in accordance with IFRS.
CRISP INC.
Statement of Financial Position
as at December 31, 2013
(in thousands)
Current assets:
Cash and cash equivalents .............. $ 75
Accounts receivable ................ 765
Inventories .................... 105
945
Non-current assets:
Property, plant, and equipment .......... 4,950
Total assets ................... $5,895
Current liabilities:
Accounts payable and accrued liabilities ........ $ 332
Deferred revenue ................. 700
1,032
Non-current liabilities:
Long-term borrowings ............. 3,500
4,532
Equity:
Share capital ................. 1
Retained earnings ............... 1,362
1,363
Total liabilities and equity ........... $5,895
Statement of Comprehensive Income
for the year ended December 31, 2013
(in thousands)
Sales ..................... $7,650
Administrative expenses ............ 1,720
Distribution costs ............... 3,830
Amortization of property, plant, and equipment .... 550
Interest .................... 250
6,350
Profit and comprehensive income for the year ..... $1,300
Required
Prepare the statement of financial position, statement of operations, and statement of changes in net debt for Capital Region for the year ended December 31, 2013.

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Debit (Credit) in thousands Opening 875 10,321 5,000 63 843 257,450 (86,765) (5,943) (14,987) (7,700) (45,000) (114,157) Transactions Closing Account Cash and cash equivalents Taxes receivable Investment in long-term bonds Investment in CRISP Inc Supplies inventories Tangible capital assets Accumulated amortization Accounts payable Employee future benefit obligations Deferred revenue Debentures payable Opening accumulated surplus Tax revenues Service and fees levied Government transfers Protection and community services Public works Property and development services Finance and administration expense General government Amortization expense Interest expense 865 12,796 4,600 63 893 279,700 (98,765) (6,216) (16,308) (8,235) (62,500) (114,157) (52,800) (37,986) (14,544) 46,680 31,928 8,654 6,336 4,211 12,000 2,785 (10) 2,475 (400) 50 22,250 (12,000) (273) (1,321) (535) (17,500) (52,800) (37,986) (14,544) 46,680 31,928 8,654 6,336 4,211 12,000 2,785