Option #1: State and Local Government Reporting The information below should be used to prepare (in proper form in Excel) a Public Transportation column for the proprietary fund Statement of Revenues, Expenses, and Changes in Fund Net Position for the fiscal year ending May 31, 2018. Operating Revenue (Services) $25,705,000 Interest Revenue $36,000 Intergovernmental Revenue $140,000 Capital Contributions $1,200,000 Operating Expenses: Employee Wages $8,654,000 Temporary Labor $750,000 Repairs and Maintenance $6,425,000 Depreciation $4,532,000 Utilities $948,000 Interest Expense $475,000 Transfer to General Fund $315,000 Net position, June 1, 2017 $3,820,000 Please also answer the following questions in MS Word: What observations can you make about the fund’s activity from June 1, 2017-May 31, 2018? Identify the other proprietary fund statements and what measurement focus and basis for accounting are used in those statements. What reports and schedules are included in the CAFR as required supplementary information? Paper Requirements: Submit your responses to the questions in a 3-4-page document in MS Word/MS Excel as indicated. Label each question clearly. For computations, please include them in a table. For written answers, please make sure your responses are well written. Assignment should follow APA guidelines (Links to an external site.) with respect to use of subheadings, 1” margins, and double spaced. The required number of pages for the assignment does not include the title page and references page. References need to include your textbook plus two additional credible academic references. All sources used, including your textbook, must be referenced; paraphrased and quoted material must have accompanying citations and cited per APA guidelines. Use of the CSU Global library is necessary.