Answer:
Statement of Revenues, Expenses, and Changes in Net Position
Particulars Amount $
Operating revenue
Auxiliary enterprise revenue 4,200,000
Student tuition and fee revenue 8,450,000
Scholarship tuition and fee contra revenue 300,000
State and local grants and contracts revenue 900,000
Total Operating revenue 13,850,000
Operating Expenses
Depreciation expense 1,400,000
Employee Benefits 1,975,000
Nonexempt wages 1,500,000
Other operating expenses 900,000
Salaries-exempt staff 2,300,000
Salaries-faculty 6,500,000
Scholarships and fellowships ex 315,000
Total Operating Expenses 14,890,000
Operating Profit (1,040,000)
Non-Operating Revenue / (Expenses)
State appropriation for operation 4,970,000
State appropriations for capital additions 250,000
Gifts 700,000
Interest on capital-related debt (450,000)
Federal grants and contracts revenue 2,000,000
Investment income 220,000
Additions to permanent endowments 400,000
Capital grants and gifts 300,000
Total non-operating income/expenses (8,390,000)
Net Position 7,350,000
(Total non-operating income - Operating Profit)
Net position, beginning of year 11,450,000
Net Position at the end of the year 18,800,000
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