The year$-$end pre$-$closing trial balance for the Woodland Park Capital Projects Fund is provided below.

Debits Credits

Cash $ $995,000$

Grant Receivables $680,000$

Investments $1,200,000$

Contracts Payable $ $1,467,500$

Contracts Payable$$Retained Percentage $70,500$

Encumbrances Outstanding $1,825,000$

Revenues $787,000$

Encumbrances $1,825,000$

Construction Expenditures $4,550,000$

Other Financing Sources$$Proceeds of Bonds $5,100,000$

$ $9,250,000$ $ $9,250,000$

Required

Prepare the year$-$end statement of revenues, expenditures, and changes in fund balances for the capital projects fund.

Prepare the year$-$end balance sheet. Assume that all fund balances are restricted.

Has the capital project been completed?