LUL, Luz, LU4 You are preparing a statement of activities for the University of Richland, a private 1] forprofit organization. The following questions. should he viewed as independent of other. Part1 During the current year, a donor gives $A,{l in cash to the school and stipulates must hold this money forever. However, any investment income earned on this mone must he used for faculty salaries. During the current year, the investment earned $31, and, of that amount, the school has expended $22, appropriately to date. As a resu these events, what was the overall change in each of the following for the current ye 1. Unrestricted net assets. 2. Temporarily restricted net assets. 3. Permanently restricted net assets. Part 2 A donor gives a large machine to the school on January 1 of the current year. It has a value of $2,, no salvage value, and a iiiyear life. The donor requires that the school keep the machine and use it for all 1D years, and the school agrees. It cannot s or retire the machine in the interim. As a result of these events, what was the overall change in each of the following for the current year? 4. Unrestricted net assets. 5. Temporarily restricted net assets. 6. Operating expenses. Part 3 Several years ago, a donor gave the school $4, in cash to help fLmd its nancial program. This year, the school charged $2 million in tuition hut granted $?il,[l in financial aid. Collections to date from the students have totaled $1.1 million. The don gift has offset $3- of the financial aid. As a result of these events, what was the overall change in each of the following for the current year? Page Edi} T. Unrestricted net assets. 8. Operating expenses. 9. Temporarily restlicted net assets