Eastern State University, a Public University, Had the Following Account

question 13

Essay

Eastern State University, a public university, had the following account balances as of June 30, 2017. 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)
$$\begin{array} { l r } \text { Accounts payable } & 535,000 \\\text { Accounts receivable net) } & 435,000 \\\text { Capital assets, net of depreciation } & 7,410,000 \\\text { Cash ard cash equivalents } & 215,000 \\\text { Cash and cash equivalents - restricted noncurrent) } & 240,000 \\\text { Deferred revenue-current } & 325,000 \\\text { General obligation bonds payable - current portion related to } & \\\text { capital acquisition) } & 390,000 \\\text { General obligation bonds payable related to capital acquisition) } & 2,500,000 \\\text { Irvertories } & 700,000 \\\text { Irvestments - Endownent } & 4,200,000 \\\text { Irvestments Long-term } & 1,500,000 \\\text { Irvestments Short-term -urirestricted } & 900,000 \\\text { Net Position--restricted-expendable } & 1,300,000 \\\text { Net Position--restricted-nonexpendable } & 4,440,000 \\\text { Revenue bonds payable related to capital acquisition) } & 2,900,000 \\\text { Net Position } &?????????\end{array}$$
Required: Prepare, in good form, a Statement of Net Position for Eastern State University as of June 30, 2017.

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