Exercise $7-26($Algo$)$ Net Position Classifications $[$LO $7-5]$

The Village of Shelburne operates a nine$-$hole golf course as an enterprise fund. You are provided with the following information for

the current year:

Net income for the year was $$161,591.$

The beginning net position balances are net investment in capital assets, $$585,440$; restricted, $$5,020$; and unrestricted, $$254,860.$

New golf carts were leased. The present value of the lease liability is $$200,090.$ A principal payment of $$40,070$ was made during

the year, and amortization of the leased asset totaled $$37,520.$

Lawn edging equipment with a carrying value of $$6,160$ was sold for $$6,380.$

A new lawn mower was purchased for $$75,000.$ At the end of the year, a $$25,000$ note associated with the machine remains

outstanding. Depreciation of the mower was $$7,500.$

Additional depreciation totaled $$30,000.$

Required

Prepare the net position section of Shelburne's statement of net position.

Answer is complete but not entirely correct.