The Star Exploration Agency, a unit of the Space Department, was established by Congress to being operations at the beginning of fiscal year 2014. Following are the agency's transactions during October, its first month of operations:
October 1 Congress passed and the president approved a $1,000,000 appropriation for this agency.
October 1 Of the amount appropriated, $950,000 was apportioned by the OMB.
October 1 The Space Department allotted the agency $100,000 to carry out its October operations.
October 1 Purchase requests were made for materials and supplies, estimated to cost $88,000.
October 4 Purchase orders were placed for materials and supplies, estimated to cost $85,000. The other requests (for $3,000) were cancelled.
October 10 Materials and supplies previously ordered were received, together with invoices for $80,000. All items received were placed inventory. The remaining items (for $5,000) will be received at a later date.
October 14 A disbursement schedule was sent to the Treasury, requesting that it pay invoices amounting to $80,000.
October 24 The Treasury informed the agency that it had paid invoices amounting to $76,000.
October 31 An inventory count showed that $15,000 of materials and supplies were on hand. The rest was used in operations.

Use the preceding information to do the following:
a. Prepare journal entries to record the events of October.
b. Prepare a preclosing trial balance.
c. Prepare the following month-end statements:
1. Balance sheet
2. Statement of net costs
3. Statement of changes in net position
4. Statement of budgetary resources