Exercise $10-13($Algo$)$ The Ombudsman Foundation is a private nonprofit organization providing dispute resolution and conflict management training. The Foundation had the following preclosing trial balance at December $31,2024,$ the end of its fiscal year: Required: a$.$ Prepare closing entries for the year$-$end, using separate entries for each net asset classification. b$.$ Prepare a Statement of Activities for the year ended December $31,2024.$ Answer is not complete. Complete this question by entering your answers in the tabs below. Required A$,$ Required B Prepare a Statement of Activities for the year ended December $31,2024.$ Note: Amounts to be deducted should be indicated by a minus sign.Exercise $10-13($Algo$)$

The Ombudsman Foundation is a private nonprofit organization providing dispute resolution and conflict management training. The

Foundation had the following preclosing trial balance at December $31,2024,$ the end of its fiscal year:

Required:

a$.$ Prepare closing entries for the year$-$end, using separate entries for each net asset classification.

b$.$ Prepare a Statement of Activities for the year ended December $31,2024.$

Answer is complete but not entirely correct.

Complete this question by entering your answers in the tabs below.

Required $B$

Prepare a Statement of Activities for the year ended December $31,2024,$

Note: Amounts to be deducted should be indicated by a minus sign.