During 20x1, Blacky organization, a not-for-profit entity, received the following donations: On December 1, 20x1, Mr. Meow established a P4,000,000 endowment fund in favor of Biacky Organization by appointing Whitey Bank and Trust Co. as the trustee. The income from the fund is to be paid to Blacky Organization for use in its current operations. Income from the fund is dependent on the investment performance of the fund. On December 31, 20x1, Blacky Organization received P400,000 in cash from Ms. Mingming Too under a charitable remainder annuity trust agreement designating Blacky Organization as the trustee and charitable remainder beneficiary. The terms of the trust agreement require Blacky Organization, as trustee, to invest the trust assets and pay P20,000 each year, starting on December 31, 20x2, to Mr. Cute Puppy, the annuitant (i.e., income beneficiary) for the remainder of Mr. Cute Puppy's life- Upon death of Mr. Cute Puppy, Black Organization may use its remainder interest for any Purpose consistent with its mission. The appropriate discount rate is 10% and the life expectancy of Mr. Cute Puppy is 5 years. What is the total net effect of the transactions above in Blacky's net assets? increase in temporarily restricted net assets by P324,184 increase in temporarily restricted net assets by P4,324,184 increase in temporarily restricted net assets by P75,816 no effect