The citizens of Spencer County approved the issuance of $2,004,000 in 6 percent general obligation bonds to finance the construction of a courthouse annex. A capital projects fund was established for that purpose. The preclosing trial balance of the courthouse annex capital project fund follows: Trial Balance—December 31, 2017 Debits Credits
Cash $906,000
Contract payable $550,000
Due from state government 189,000
Encumbrances 106,000
Expenditures—capital 1,852,000
Intergovernmental grant 393,000
OFS: premium on bonds 55,000
OFS: proceeds sale of bonds 2,004,000
Budgetary fund balance— 106,000
Reserve for encumbrances
OFU: Transfer out 55,000
$3,108,000 $3,108,000

Required:
a. Prepare any closing entries necessary at year-end.
b. Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the courthouse annex capital project fund.
c. Prepare a Balance Sheet for the courthouse annex capital project fund, assuming all unexpended resources are restricted to construction of the courthouse annex.