Current Attempt in Progress $1.$ Separate funds should be established for the General Fund, the Cullumber Endowment Fund, and the Plant Replacement and Expansion Fund $($the old balances will be reversed to eliminate them$).2.$ The accounts should be maintained in accordance with fund accounting principles. The balances in the general ledger at January $1,2025,$ are presented here: $\backslash$begin$\{$tabular$\}\{$lrr$\}$ Cash & $\backslash (\backslash$$ $49,000\backslash )\backslash \backslash$ Investment in U$.$S$.$ treasury bills & $98,000\backslash \backslash$ Investment in common stock & $441,000\backslash \backslash$ Interest receivable & $5,000\backslash \backslash$ Accounts receivable & $44,000\backslash \backslash$ Inventory & $28,000\backslash \backslash$ Land & $369,000\backslash \backslash$ Building & $257,000$ & $\backslash \backslash$ Equipment & $271,000$ & $\backslash \backslash$ Allowance for depreciation & & $\backslash (\backslash$$ $381,000\backslash )\backslash \backslash$ Accounts payable & & $65,000\backslash \backslash$ Bank loan & & $147,000\backslash \backslash$ Endowment fund balance & & $117,000\backslash \backslash$ Other fund balances & $\backslash (\backslash$$ $1,562,000\backslash )$ & $\backslash (\backslash$$ $1,562,000\backslash )\backslash \backslash$ Total & & $852,000\backslash \backslash \backslash$hline $\backslash$end$\{$tabular$\}$ The following additional information is available:

$2.$ The Endowment Fund consists of the following:

$\backslash$begin$\{$tabular$\}\{$lr$\}$

Cash received in $1912$ by bequest from Ethington & $\backslash (\backslash$$ $76,000\backslash )\backslash \backslash$

$\backslash$begin$\{$tabular$\}\{$l$\}$

Net gains realized from $1956$ through $1989$ from the sale of real estate $\backslash \backslash$

acquired in mortgage foreclosures

$\backslash$end$\{$tabular$\}$ & $22,000\backslash \backslash$

$\backslash$begin$\{$tabular$\}\{$l$\}$

Income received from $1990$ through $2024$ from $90-$day U$.$S$.\backslash \backslash$

treasury bill investments $\backslash \backslash$

Balance per general ledger on January $1,2025$

$\backslash$end$\{$tabular$\}$ & $\backslash$begin$\{$tabular$\}\{$l$\}$

$19,000\backslash \backslash$

$\backslash$hline $117,000\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

$\backslash$end$\{$tabular$\}$

$3.$ The land account balance is composed of

$\backslash$begin$\{$tabular$\}\{$lr$\}$

$\backslash$begin$\{$tabular$\}\{$l$\}$

A $1912$ appraisal of land at $\backslash (\backslash$$ $11,000\backslash )$ and building at $\backslash (\backslash$$ $6,000\backslash ),$ received by $\backslash \backslash$

donation at that time. The building was demolished in $1934$

$\backslash$end$\{$tabular$\}$ & $\backslash (\backslash$$ $17,000\backslash )\backslash \backslash$

$\backslash$begin$\{$tabular$\}\{$lr$\}$

Appraisal increase based on insured value in land title policies $\backslash \backslash$

issued in $1954$ & $340,000\backslash \backslash$

Landscaping costs for trees planted & $12,000\backslash \backslash$

$\backslash$hline Balance per general ledger on January $1,2025$ & $\backslash (\backslash$underline$\{\backslash$$ $369,000\}\backslash )\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

$\backslash$end$\{$tabular$\}$

$4.$ The building balance is composed of

Cost of present hospital building completed in January $1985,$ when the

$\backslash$begin$\{$tabular$\}\{$lr$\}$

hospital commenced operations & $\backslash (\backslash$$ $311,000\backslash )\backslash \backslash$

Adjustment to record appraised value of building in $1994$ & $\backslash ((95,000)\backslash )\backslash \backslash$

Cost of elevator installed in hospital building in January $2010$ & $41,000\backslash \backslash$

Balance per general ledger on January $1,2025$ & $\backslash (\backslash$$ $257,000\backslash )\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$ The estimated useful lives of the hospital building and the elevator when new were $50$ years $(9$ years remaining$)$ and $20$ years $(5$ years remaining$),$ respectively. computed on a straight$-$line basis.

$6.$ A bank loan was obtained to finance the cost of new operating room equipment purchased in $2021.$ Interest was paid to December $31,2024.$