The following information pertains to the City of Williamson for2017, its first year of legal existence. For convenience, assumethat all transactions are for the general fund, which has threeseparate functions: general government, public safety, and healthand sanitation. Receipts: Property taxes $414,000 Franchise taxes43,000 Charges for general government services 6,200 Charges forpublic safety services 4,300 Charges for health and sanitationservices 47,800 Issued long-term note payable 314,000 Receivablesat end of year: Property taxes (90% estimated to be collectible)100,800 Payments: Salary: General government 60,200 Public safety32,800 Health and sanitation 20,200 Rent: General government 16,300Public safety 21,000 Health and sanitation 3,900 Maintenance:General government 27,600 Public safety 5,700 Health and sanitation11,500 Insurance: General government 8,400 Public safety ($3,800still prepaid at end of year) 15,300 Health and sanitation 15,700Interest on debt 25,120 Principal payment on debt 6,280 Storageshed 194,000 Equipment 120,000 Supplies (20% still held) (publicsafety) 16,600 Investments 92,000 Ordered but not received:Equipment 16,500 Due in one month at end of year: Salaries: Generalgovernment 4,500 Public safety 8,400 Health and sanitation 9,300Compensated absences (such as vacations and sick days) are legallyowed to general government workers at year-end total $19,500. Theseamounts will not be taken by the employees until so late in 2018that the payment is not viewed as requiring 2017 current financialresources. The city received a piece of art this year as adonation. It is valued at $23,900. It will be used for generalgovernment purposes. There are no eligibility requirements. Thecity chose not to capitalize this property. The general governmentuses the storage shed that was acquired this year. It is beingdepreciated over 10 years using the straight-line method with nosalvage value. The city uses the equipment for health andsanitation and depreciates it using the straight-line method overfive years with no salvage value. The investments are valued at$109,900 at the end of the year. For the equipment that has beenordered but not yet received, the City Council (the highestdecision-making body in the government) has voted to honor thecommitment when the equipment is received. a-1. Prepare a statementof activities for governmental activities for December 31, 2017.a-2. Prepare a statement of net position for governmentalactivities for December 31, 2017. b-1. Prepare a statement ofrevenues, expenditures, and other changes in fund balances for thegeneral fund as of December 31, 2017. Assume that the city appliesthe consumption method. b-2. Prepare a balance sheet for thegeneral fund as of December 31, 2017. Assume that the city appliesthe consumption method.