The following information applies to the questions displayed below.] The following is the preclosing trial balance for Allen University as of June 30, 2020. Additional information related to net assets and the statement of cash flows is also provided. ALLEN UNIVERSITY Preclosing Trial Balance June 30, 2020 Debits Credits Cash and Cash Equivalents $ 518,810 Investments 3,215,000 Tuition and Fees Receivable 373,900 Allowance for Doubtful Accounts $ 75,900 Pledges Receivable 223,900 Allowance for Doubtful Pledges 79,300 Property, Plant, and Equipment 2,204,520 Accumulated Depreciation 661,230 Accounts Payable 103,410 Accrued Liabilities 39,830 Deposits Held in Custody for Others 18,650 Unearned Revenue 65,970 Bonds Payable 841,000 Net Assets—Without Donor Restrictions 3,231,240 Net Assets—With Donor Restrictions 1,401,600 Net Assets Released from Restrictions—With Donor Restrictions 452,800 Net Assets Released from Restrictions—Without Donor Restrictions 452,800 Tuition and Fees 1,292,690 Tuition and Fees Discount and Allowances 327,500 Contributions—Without Donor Restrictions 312,440 Contributions—With Donor Restrictions 331,420 Grants and Contracts—With Donor Restrictions 326,360 Investment Income—Without Donor Restrictions 52,690 Investment Income—With Donor Restrictions 30,900 Other Revenue 13,600 Auxiliary Enterprise Sales and Services 157,700 Gain on Sale of Investments 71,700 Unrealized Gain on Investments 406,050 Instruction Expense 1,073,730 Research Expense 613,900 Academic Support Expense 273,660 Student Services Expense 231,600 Institutional Support Expense 255,560 Auxiliary Enterprise Expenses 201,600 Total $ 9,966,480 $ 9,966,480 Additional Information Net assets released from donor restrictions totaled $452,800. The gain resulting from sale of investments was unrestricted. Thirty percent of the unrealized gain is related to net assets restricted for programs, with the remainder related to net assets without donor restrictions. Additional information is as follows: The balance in cash and cash equivalents as of July 1, 2019, was $792,700. Tuition and Fees Receivable increased by $12,390. Pledges Receivable decreased by $1,900. Allowance for Doubtful Accounts was increased by $920 (the bad debt was netted against Tuition and Fees). Accounts Payable decreased by $3,500. Accrued Liabilities decreased by $1,380. Unearned Revenue increased by $7,650. Depreciation Expense was $37,060. Cash of $133,000 was used to retire bonds. Investments were sold for $1,995,000 (at a gain of $71,700) and others were purchased for $1,662,500. Net assets without donor restrictions were used to purchase equipment at a cost of $43,900.
Required
Prepare a statement of activities for the year ended June 30, 2020. (Amounts to be deducted should be indicated with a minus sign.)