Pension Plan Financial Statements. The State of Nodak operates a Public Employees Retirement System (PERS) for all employees of the state. The preclosing trial balance of the PERS as of June 30, 2011, follows (in thousands of dollars):

Required
a. Prepare a statement of changes in plan net assets for the State of Nodak Public Employees Retirement System for the year ended June 30, 2011, in as much detail as possible.
b. Prepare a statement of plan net assets as of June 30, 2011, for the State of Nodak Public Employees Retirement System.
c. Explain how the State of Nodak (the employer) would report its participation in the state PERS at the fund level and at the government-widelevel.

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Debits Credits $ 16,000 33,200 Cash Accrued Interest Receivable Investments 2,002,000 25,200 Equipment and Fixtures Accumulated Depreciation-Equipment and Fixtures 3,100 Accounts Payable and Accruals Net Assets Held in Trust for Pension Benefits, 33,400 July 1, 2010 Member Contributions Employer Contributions Interest and Dividend Income Net Change in Fair Value of Investments Annuity Benefits Disability Benefits Refunds to Terminated Employees Administrative Expenses 1,577,000 112,100 197,800 199,700 58,800 53,900 14,000 28,800 8,800 Total l $2,181,900 $2,181,900