Acitizen group raised funds to establish an endowment for the eastville city library. under the terms of the trust agreement, the principal must be maintained, but the earnings of the fund are to be used to purchase database and periodical subscriptions for the library. a preclosing trial balance of the library permanent fund follows: trial balance—december 31, 2017 debits credits cash $ 9,000 investments 520,000 additions to permanent endowments $ 511,500 investment income 49,500 expenditures—subscriptions 40,500 intergovernmental grant net increase in fair value of investments 8,500 accrued interest receivable 2,250 accounts payable 2,250 $ 571,750 $ 571,750 required: a. prepare any closing entries necessary at year-end. b. prepare a statement of revenues, expenditures, and changes in fund balance for the library permanent fund. c. prepare a balance sheet for the library permanent fund (use assigned to library for any spendable fund balance).