A not-for-profit university maintained an endowment of $400,000, the income of which was restricted for an annual conference on international relations. In a particular year, the fair value of the endowment increased by $40,000. The university held a conference on international relations at a cost of $43,000. The university should report
a. No revenue and expenses without donor restrictions of $43,000.
b. Revenues without donor restrictions of $40,000 and expenses without donor restrictions of $43,000. 

c. Revenues with donor restrictions of $40,000, expenses with donor restrictions of $40,000 and expenses without donor restrictions of $3,000.
d. Revenues with donor restrictions of $40,000 and expenses without donor restrictions of $43,000.