The following information is available about items that differ between the governmental funds and the government-wide statements. Assume that there are no internal service funds. The schedule of capital assets prepared for the year ended December 31, 2020, includes the following items:

The bond was issued at the beginning of the year, and the following amortization schedule is available.

The net change in fund balances?total governmental funds was $1,100,000.

Required:

Prepare the reconciliation of the statement of revenues, expenditures, and changes in fund balances to the statement of activities on a government-wide basis for the year ended December 31, 2020.

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Beginning Balance Ending Government Activities Additions Retirements Balance Total Capital Assets (at gross) Less: Accumulated Depreciation Net Capital Assets $(25,000) $700,000 $50,000 $725,000 (170,000) (30,000) 17,500 (182,500) $ (7,500) $530,000 $20,000 $542,500 Interest Cash Premium Amortization Bond Date Expense Paid Balance 1/1/2020 $104,213 12/31/2020 6,253 747 7,000 $103,466