The newly established Environmental Council (a nongovemmental not-tor- profit organization) uses two funds for internal reporting purposes. The general fund is used to record day-to-day operating transactions. A building fund is used to accumulate resources for a new building to house the Council's operations. Both funds are reported using the accrual basis of accounting. In its first year, the Council engaged in the following transactions. Prepare a statement ot revenues, expenses, and other changes in fund balances. Use a two-column format, one column for each of the Council's two funds. Comment on the extent to which the statement of revenues, expenditures, and changes in fund balances measures the cost ot services? It received cash contributions of $500,000. Donors stipulate that $100,000 of this amount must be used for the new building. It incurred operating payroll costs of $200,000, of which $180,000 is paid in It eamed $1 ,OOO in interest (paid in cash) on investments restricted to the acquisition of the new building. It transferred $25 ,OOO from its general fund to the building fund. It paid $15,000 in fees (accounted for as expenses) for architectural drawings for the proposed building