103.Northwest State University had the following account balances as of June 30, 2015. Debits are not distinguished from credits, so assume all accounts have a “normal” balance (i.e. cash is a debit and accounts payable a credit)
Accounts payable
535,000
Accounts receivable (net)
435,000
Capital assets, net of depreciation
7,400,000
Cash and cash equivalents
215,000
Cash and cash equivalents – restricted (noncurrent)
240,000
Deferred revenue-current
325,000
General obligation bonds payable - current portion (related to capital acquisition)
390,000
General obligation bonds payable (related to capital acquisition)
2,500,000
Inventories
700,000
Investments - Endowment
4,200,000
Investments Long-term
1,500,000
Investments Short-term -unrestricted
900,000
Net Position-restricted-expendable
1,300,000
Net Position-restricted-nonexpendable
4,400,000
Revenue bonds payable (related to capital acquisition)
2,900,000
Net Assets - Unrestricted
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Required: Prepare, in good form, a Statement of Net Position for Northwest State University as of June 30, 2015.
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