The City of Lucky Received a $3,000 Gift of Cash

The City of Lucky received a $3,000 gift of cash. The donor stipulated that the principal of the gift must be maintained intact. Earnings of the trust may be used only to restore historic buildings. The buildings are owned and maintained by the local, not-for-profit historical society, which is not part of the city government entity. All amounts are in thousands of dollars.
Transactions:
1. Record the receipt of the gift on January 2, 20X3.
2. The city purchased investments for $2,800.
3. The city earned $200 in interest on some investments and sold investments that cost $750 for $700.
4. The city received bills from the historical society for $140 in repairs to historical buildings for the year. The city paid $125, with the balance to be repaid later.
5. By year-end the fair value of investments increased $300.
Requirements:
1. Prepare journal entries to record the transactions in a city's accounts. If no entry is required, state "No entry required" and explain why.
2. Prepare the Statement of Changes in Fund Net Position and Statement of Net Position for the year ended December 31, 20X3.