On January 1, 2020, a rich citizen of the Town of Ristoni donates o pointing valued ot $372,000 to be displayed to the public in a government building. Although this painting meets the three critena to qualify as an anwork, town officiols choose to record it as an asset. The gift has no eligibility requirements. These officials judge the painting to be inexharssible so thot depreciavon will not be reported. a. For the year ended December 31, 2020, what does the town report on its govemnent-vide financial tototements in connection with this gift? b. How does the answer to requirement (o) change if the government decides to depreciato this osset over a ioyear period using straight-line depreciation? c. How does the answer to requirement (a) change if the govemment decides not to capalize the oscer? Complete this question by entering your answers in the tabs below. For the year ended December 31,2020 , what does the town report on its government-wide financial statements in connection with this gift