Accounting Professionals International (API) Is a Private Not-For-Profit Organization That

Accounting Professionals International (API) is a private not-for-profit organization that promotes the accounting profession. Here is its trial balance at January 1, 2021:
$$\begin{array} { | l | c | } \hline & \text { Dr (Cr) } \\\hline \text { Cash } & \$ 32,000 \\\hline \text { Contributions receivable } & 35,000 \\\hline \text { Property and equipment, net } & 100,000 \\\hline \text { Investments } & 80,000 \\\hline \text { Accounts payable } & ( 20,000 )\\\hline \text { Net assetswithout do nor restrictions } &( 157,000 ) \\\hline \text { Net assetswith donor restrictions } &(70,000 ) \\\hline \text { Total } & \underline { \mathbf { \$ 0 } } \\\hline\end{array}$$ API's transactions and other activities for 2021 are as follows:
1) Cash contributions of $150,000 were received. They consist of:
(a) $95,000 cash received from friends of API as general contributions,
(b) $30,000 in contributions that are restricted to programs that promote accounting careers to high school students, and
(c) $25,000 in endowments.
2) The contributions receivable outstanding on January 1, 2021 represent the present value of promises to contribute, discounted at 4%. On December 31, 2021, $4,000 was received related to these promises. These promises are unrestricted.
3) Information on the $80,000 in investments on hand at January 1, 2021 is as follows:
(a) $30,000 represents securities contributed by a donor in prior years. The securities are donor restricted. The fair value of these securities is $29,000 at the end of 2021.
(b) $10,000 of securities represent the investment of endowment contributions of $10,000 in cash at the end of 2020. The fair value of these securities is $12,000 at the end of 2021. Income is unrestricted.
(c) The remainder of $40,000 of securities are investments of excess cash and have a fair value of $40,500 at the end of 2021.
(d) No securities were sold during 2021.
4) Investments of $25,000 in endowed cash were made toward the end of 2021. There are no unrealized gains and losses on these investments in 2021.
5) Investment income, received in cash, totaled $9,000. Of this amount, $3,000 is income that is donor- restricted to specific programs.
6) Expenses for the year were as follows:
$$\begin{array} { | l | r | } \hline \text { Prog rams } & \$ 135,000 \\\hline \text { Management and general } & 16,500 \\\hline \text { Fund-raising } & \underline { 3,500 } \\\hline \text { Total } & \$ 155,000 \\\hline\end{array}$$ $36,000 of this total represents spending for donor-specified activities. Also included is $5,000 depreciation on API property. Accounts payable decreased by $1,500 in 2021. API reports expenses functionally on its statement of activities.
7) $2,000 fair value of management and general services were donated, and properly recognized as contributions per ASC 958.
Required
a. Present API's statement of activities for 2021, in good form.
b. Present API's statement of financial position at December 31, 2021, in good form.
c. Present API's statement of cash flows for 2021, in good form, using the direct approach for the operating section.
d. Present the operating section of API's statement of cash flows for 2021, using the indirect approach.