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The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31,2020 , the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund a. Prepare the closing entries for December 31 . b. Prepare the Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31. c. Prepare the Net Position section of the December 31 balance sheet. (Assume that the revenue bonds were issued to acquire capit: assets and there are no restricted assets) Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the closing entries for December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) \begin{tabular}{|l|l|} \hline \multicolumn{1}{|l|}{ Total Operating Expenses } & 626,000 \\ \hline Operating Income (Loss) & (39,000) \\ \hline Nonoperating Income (Expenses): & \\ \hline Interest Expense & 667,800 \\ \hline & \\ \hline & \\ \hline Total Nonoperating Revenue & 667,800 \\ \hline Income (Loss) Before Transfers & 628,800 \\ \hline Transfer from General Fund & 132,900 \\ \hline Change in Net Position & 761,700 \\ \hline Net Position - Beginning of Year & (48,900) \\ \hline Net Position - End of Year & 712,800 \\ \hline \end{tabular} Required A Required C> Prepare the Net Position section of the December 31 balance sheet. (Assume that the revenue bonds were iss capital assets and there are no restricted assets.)

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