During the current year, the Town of Mashpee had a number of transactions that affected net position of its town golf course, which is operated as an enterprise fund. You are provided with the following information:
1. The beginning net position balances are net investment in capital assets, $681,300; restricted for renovation of the check-in stand, $0; and unrestricted, $1,357,682.
2. Net income for the year was $163,119.
3. Depreciation expense totaled $54,120.
4. A piece of equipment with a carrying value of $27,100 was sold for $26,000.
5. Bonds for $500,000 were issued to construct a new pro shop. At the end of the year, the shop was partially complete, and construction work in progress totaled $248,595.
6. A $15,035 principal payment was made on a lease obligation.
7. A new golf ball retrieving machine was purchased for $350,000. At the end of the year, a $31,000 note associated with the machine remains outstanding.
8. The check-in stand was completed for $53,100 of construction costs incurred this year.
Prepare the net position section of Mashpee’s statement of net position.
