Debits Credits Cash Due from Other Funds Materials and Supplies Inventory Machinery and Equipment (in thousands) $14,500 4,250 350 53,600 Accumulated Depreciation Accounts Payable Payroll Taxes Payable Due to Other Funds Net Position-Net Investment in Capital Assets Net Position-Unrestricted $30,100 2,550 2,650 1,200 23,500 12,700 $72,700 $72,700 During the fiscal year ended December 31, 2017, the following transactions (summarized) occurred: 1. Gross employee wages were $57,600, including the employer's share of So- cial Security taxes amounting to $4,100. Federal income and Social Secu- rity taxes withheld from that amount totaled $18,725. 2. Office expenses in the amount of $3,700 were paid in cash. 3. Materials and supplies purchased on account during the year were $8,400. 4. Received a bill totaling $14,525 for utilities provided by Washington City's utility fund. 5. Cash paid to the federal government for payroll taxes was $23,000. 6. Cash paid to the Utility Fund was $14,500. 7. Accounts payable at year-end totaled $2,950. 8. Materials and supplies used during the year were $8,250. 9. Charges to departments during the fiscal year were as follows: General Fund Special Revenue Fund $57,500 20,600 10. Unpaid balances at year-end were: General Fund Special Revenue Fund 11. The depreciation for the year was $6,100. $3,500 1,800 12. Revenue and expense accounts for the year were closed. Required a. Prepare a statement of revenues, expenses, and changes in net position for the Information Technology Fund for 2017. b. Prepare a statement of net position for the Information Technology Fund as of December 31, 2017. c. Prepare a statement of cash flows for the Information Technology Fund as of December 31, 2017. d. Given the goals of the fund as described above, evaluate the manager of the IT department.