Question: Using the annual financial report obtained for Exercise 1-1, answer the following questions: a. Find the Statement of Net Position for the proprietary funds. Is

Using the annual financial report obtained for Exercise 1-1, answer the following questions:

a. Find the Statement of Net Position for the proprietary funds. Is the Net Position or the Balance Sheet format used? List the major enterprise funds from that statement. Is the statement classified between current and noncurrent assets and liabilities?

b. Find the Statement of Cash Flows for the proprietary funds. List the four categories of cash flows. Are they the same as shown in the text?

c. If your government has a CAFR, look to any combining statements and list the nonmajor enterprise funds.

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