10 Part 5 of 6 statements show total assets of $900,000, total liabilities of $100,000, net assets without donor restriction of $400,000, and net assets with donor restrictions of $400,000. This last category is composed of $300,000 in net assets with purpose restrictions and $100,000 in net assets that must be permanently held. At the end of Year 1, financial statements show total assets of $700,000, total liabilities of $60,000, net assets without donor restriction of $340,000, and net assets with donor restrictions of $300,000. This last category is composed of $220,000 in net assets with purpose restrictions and $80,000 in net assets that must be permanently held. Total expenses for Year 2 were $500,000 and reported under net assets without donor restrictions. Each part that follows should be viewed as an independent situation. Return to question 5.45 points Mc Problem 18-45 Part Five Assume that on January 1, Year 2, several supporters of the entity spent their own time and money to construct a garage for the entity's vehicles. It was donated for free. The labor had a fair value of $20,000, and the materials had a fair value of $50,000. It was expected to last for 10 years and have no residual value. On that day, the entity increased its contributed support under net assets without donor restrictions by $70,000 and increased its expenses under net assets without donor restrictions by the same amount. No further entry has ever been made. Required: a. What was the appropriate amount of net assets without donor restrictions at the end of Year 2? Answer is not complete. Net assets without donor restrictions at the end of Year 2