Landon College, a private college, received a $1 million donation. The donor specified that the principal of her gift could never be used for program activities, but the earnings on the principal must be used to provide scholarships to academically qualified students in the business school. The $1 million gift would increase which of the following categories of net assets? Question 32 options: Unrestricted net assets. Temporarily restricted net assets. Permanently restricted net assets. Either (b) and (c).