The following is the pre closing trial balance for Allen University as of June 30, 2017. Additional information related to net assets and the statement of cash flows is also provided.

Additional Information
Net assets released from temporary restrictions totaled $426,850. The gain resulting from sale of investments was unrestricted. Twenty percent of the unrealized gain is related to permanently restricted net assets and 10 percent is related to temporarily restricted net assets, with the remainder related to unrestricted net assets.
Additional information is as follows:
The balance in cash and cash equivalents as of July 1, 2016, was $615,540.
Tuition and Fees Receivable increased by $10,230.
Pledges Receivable decreased by $1,560.
Allowance for Doubtful Accounts was increased by $770 (the bad debt was netted against Tuition and Fees).
Accounts Payable decreased by $2,900.
Accrued Liabilities decreased by $1,120.
Unearned Revenue increased by $6,200.
Depreciation Expense was $30,070.
Cash of $100,000 was used to retire bonds.
Investments were sold for $1,500,000 (at a gain of $70,000) and others were purchased for $1,250,000.
Unrestricted net assets were used to purchase equipment at a cost of $33,000.
Required
a. Prepare a statement of activities for the year ended June 30, 2017.
b. Prepare a statement of financial position for June 30, 2017.
c. Prepare a statement of cash flows for the year ended June 30, 2017.

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ALLEN UNIVERSITY Predlosing Trial Balance June 30, 2017 Debits S 516,600 3,200,000 372,400 Cash and Cash Equivalents Tuition and Fees Receivable Allowance for Doubtful Accounts Pledges Receivable Allowance for Doubtful Pledges Property, Plant, and Equipment Accumulated Depreciation Accounts Payable Accrued Liabilities Deposits Held in Custody for Others Unearned Revenue Bonds Payable Net Assets-Unrestricted Net Assets-Temporarily Restricted $ 75,600 223,000 79,000 2,196,160 658,720 103,000 37,500 17,570 62,150 792,000 3,353,110 340,600 980,000 426,850 Net Assets Released from Restrictions-Temporarily Restricted Net Assets Released from Restrictions-Unrestricted Tuition and Fees Tuition and Fees Discount and Allowances Contribut Contributions-Temporarily Restricted 426,850 1,290,750 327,000 310,200 177,000 150,000 324,000 50,500 29,500 13,250 153,560 70,000 179,200 Grants and Contracts-Temporarily Restricted Investment Income-Temporarily Restricted Other Revenue Auxiliary Enterprise Sales and Services Gain on Sale of Investments Unrealized Gain on Investments Research Expense Academic Support Expense Student Services Expense Institutional Support Expense Auxiliary Enterprise Expenses 1,044,630 571,800 240,560 193,000 203,360 158,700 Total 9,674,060 $9,674,060