1. From the below information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $583,000 for governmental activities and $200,000 for business-type activities

a) Net investment in Capital assets=?

b) Unrestricted =?

2. Write a one-page memo to the Mayor and City Council of Southern Springs discussing the Statement of Net Position for the City. Highlight key information and implications for the city's decision-makers.

The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020:

Cash and cash equivalents, governmental activities	$	400,000
Cash and cash equivalents, business-type activities		842,000
Receivables, governmental activities		474,000
Receivables, business-type activities		1,401,000
Inventories, business-type activities		548,000
Capital assets, net, governmental activities		14,227,000
Capital assets, net, business-type activities		7,482,000
Accounts payable, governmental activities		685,000
Accounts payable, business-type activities		589,000
General obligation bonds, governmental activities		8,219,000
Revenue bonds, business-type activities		3,382,000
Long-term liability for compensated absences, governmental activities		378,000