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The Alpine school district engaged in the following transactions in its fiscal year ending August 31, 2018. By law, the district is required to establish a capital projects fund to account for school construction projects and a debt service fund to account for resources legally restricted to the payment of long-term principal and related interest. • On March 1, it issued $40 million in general obligation bonds to finance the construction of a new junior high school. The bonds were to mature in 20 years (40 periods) and had a coupon rate of 4 percent per year (2 percent per semiannual period). They were sold for $38,924,728 (a discount of $1,075,272), a price that reflected an annual yield of 4.2 percent (2.1 percent per period). • On August 31 the district made its first interest payment of $800,000. • During the year the builder with whom the district contracted to construct the building completed approximately 10 percent of the building and billed the district for $4 million. • On August 31, the district issued $10 million in bond anticipation notes to finance improvements to its athletic facilities. By the time the district issued its fiscal year-end 2018 financial statements in December 2018, it still had not refinanced these notes and had not yet started construction on the facilities. • In June the district issued $2 million in tax anticipation notes. It repaid these notes in September. Interest applicable to the notes for the fiscal year ending August 31, 2018, was $25,000, all of which was paid in September when the notes matured. • In August, the district settled a lawsuit with a group of former teachers. Per a structured settlement, the district agreed to make several payments totaling $1,600,000 to the teachers. The district has a policy of recording long-term obligations at present value whenever required or permitted by GAAP. It estimates the present value of this settlement to be $1,350,000. What amount relating to these transactions should the district report in its August 31, 2018, financial statements as: 1. Interest expenditure in its debt service fund statement of revenues and expenditures? 2. Interest expense in its government-wide statement of activities? 3. Long-term debt in the capital projects fund balance sheet? 4. Current debt in the capital projects fund balance sheet? 5. Long-term debt in the debt service fund balance sheet? 6. Bonds payable (net of bond discount) in the government-wide statement of net position? 7. Other noncurrent debt in the government-wide statement of net position? 8. Invested in capital assets, in the government-wide statement of net position? 9. Current liabilities in the general-fund balance sheet? Select each response from one of the amounts that follow. An amount may be selected once, more than once, or not at all. a. $(34,942,147) b. $0 c. $25,000 d. $800,000 e. $817,419 f. $842,419 g. $1,350,000 h. $1,600,000 i. $2,000,000 j. $2,025,000 k. $10,000,000 l. $12,000,000 m. $12,025,000 n. $38,924,728 o. $38,942,147. Show Work on how to get the numbers.

Answer 1