8-C. Assemble the following from previous continuous problems: (1) the governmental funds Balance Sheet and Statement of Revenues, Expenditures, and Changes in Fund Balances from Section 5-C; (3) the proprietary funds Statement of Net position andStatement of Revenues, Expenses, and Changes in Fund Net position from Section 6-C.

3.Prepare, in good form, a Statement of Activities for the City of Monroe for the Year Ended December 31, 2020. For purposes of this statement, assume:

$ 332,000 in the General Fund is a state grant specifically to support general government programs.

$ 1,067,500 in the Street and Highway Fund is an operating grant specifically for highway and street maintenance expenses.

$ 1,335,000 in the City Jail Construction Fund is a capital grant that applies to public safety.

Use the balances computed from the worksheet completed in part 2 for the governmental activities portion of the statement.Use the solution to P6-C (Enterprise fund) to prepare the business activities portion (net any short-term interfund payables/receivables).