For a number of years, a private not-for-profit entity has been preparing financlal statements that do not necessarily follow generally accepted accounting principles. At the end of the most recent year (Year 2), those financial statements show total assets of $2,150,000, total llablitles of $350,000, total unrestricted net assets of $900,000, total temporarly restricted net assets of $550,000, and total permanently restricted net assets of $350,000. In additlon, total expenses for the year were $1,000,000 (shown in unrestricted net assets) At the beginning of Year 1, the entity above recelved $75,000 in cash as a gift with the stipulation that the money be used to buy a bus. The accountant made the appropriate entry at that time. On the first day of Year 2, the entity spent the $75,000 for the bus, an asset that wll last for 20 years and will have no salvage value. Because the money came from an outside donor, entity officials decided that a time restriction on the bus should be assumed for 20 years. In Year 2, It reported $3,750 as depreclation expense In unrestricted net assets. In addition, the organization made a $75,000 reduction in permanently restricted net assets and a $75,000 increase in unrestricted net assets. a. What was the correct amount of unrestricted net assets at the end of Year 2? b. What was the correct amount of expenses for Year 2? c. What was the correct amount of temporarly restricted net assets at the end of Year 2? Unrestricted net assets a Expenses Temporarily restricted net assets