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Question(s) / Instruction(s):

     32.     (Computation of net assets invested in capital assets, net of related debt)

The following information is taken from the financial statements of Keeler Water District 2, an Enterprise Fund. Based on these data, compute the amount that Fund should report on its statement of net assets, as net assets invested in capital assets, net of related debt.
Buildings               $1,100,000
Water mains and equipment     5,200,000
Accumulated depreciation, capital assets      2,300,000
Current portion of revenue bonds payable     450,000
Long-term portion of revenue bonds payable     1,800,000

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