Gibson City reported the following items at December 31, 20X2. It has no component units and does not depreciate its infrastructure fixed assets. It issued all bonds€”general obligation bonds and revenue€”to acquire capital assets. As of December 31, 20X2, net assets of $25,000 were restricted for road maintenance in special revenue funds, and net assets of $30,000 were restricted for debt service. Cash of $5,000 was restricted in business-type activities for plant maintenance.

Required
Using the information provided, prepare in good form a statement of net assets for Gibson City at December 31,20X2.

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Governmental Business-Type Activities Activities Assets Cash & cash equivalents Taxes receivable (net) Accounts receivable (net) Due from governmental activities Inventories Investments Capital assets: $68,000 52,000 $28,000 12,000 5,000 7,000 15,000 10,000 25,000 Land 100,000 60,000 75,000 50,000 Infrastructure Other depreciable assets (net) 45,000 Liabilities: Vouchers payable Accrued interest payable Due to business-type activities Revenue bonds payable General obligation bonds payable 32,000 1,500 5,000 4,000 2,000 80,000 60,000