Fund-based statements. The preclosing, year-end trial balance for a capital projects fund of the city of Rochester as of December 31, 2019, follows: 1. Prepare closing entries as of December 31,...

Fund-based statements. The preclosing, year-end trial balance for a capital projects fund of the city of Rochester as of December 31, 2019, follows:

1. Prepare closing entries as of December 31, 2019.

2. Prepare the year-end statement of revenues, expenditures, and changes in fund balances for this project that began on January 2, 2019.

3. Prepare the fund balance sheet as of December 31, 2019.