(Solved): Exercise 7-26 (Algo) Net Position Classifications [LO 7-5] The Village of Shelburne operates a nine ...

Exercise 7-26 (Algo) Net Position Classifications [LO 7-5] The Village of Shelburne operates a nine-hole golf course as an enterprise fund. You are provided with the following information for the current year: Net income for the year was

. The beginning net position balances are net investment in capital assets,

; restricted,

; and unrestricted,

. New golf carts were leased. The present value of the lease liability is

. A principal payment of

was made during the year, and amortization of the leased asset totaled

. Lawn edging equipment with a carrying value of

was sold for

. A new lawn mower was purchased for

. At the end of the year, a

note associated with the machine remains outstanding. Depreciation of the mower was

. Additional depreciation totaled

. Required Prepare the net position section of Shelburne's statement of net position. Answer is complete but not entirely correct.