3. The following gifts are received in Year One by a not-for-profit organization: - $3,000 specified by the donor to be used to pay salaries. - $12,000 for new conference room furniture - $6,000 to be held for one year before being expended - $5,000 that can be used at the discretion of the organization - $70,000 with the condition that only interest can be spent at the discretion of the organization The salaries are paid in Year Two and the conference room furniture is purchased in Year One. Required: a. Show the impact that these gifts would have on Net Assets without Donor Restrictions and Net Assets with Donor Restrictions in Year One. b. Show the impact that these gifts would have on Net Assets without Donor Restrictions and Net Assets with Donor Restrictions in Year Two. c. For any of the gifts that have Donor Restrictions, identify if the restrictions are for purpose, time or permanent.