Part 1 of 3 10 points eBook Required Information [The following information applies to the questions displayed below.] For a number of years, a private not-for-profit entity has been preparing financial statements that do not necessarily conform to U.S. generally accepted accounting principles. At the end of the most recent year (Year 2), those financial statements show total assets of $900,000, total liabilities of $100,000, net assets without donor restriction of $400,000. and net assets with donor restrictions of $400,000. This last category is composed of $300,000 in net assets with purpose restrictions and $100,000 in net assets that must be permanently held. At the end of Year 1, financial statements show total assets of $700,000, total liabilities of $60,000, net assets without donor restriction of $340,000, and net assets with donor restrictions of $300,000. This last category is composed of $220,000 in net assets with purpose restrictions and $80,000 in net assets that must be permanently held. Total expenses for Year 2 were $500,000 and reported under net assets without donor restrictions. Each part that follows should be viewed as an independent situation. Print References Assume that, at the beginning of Year 1, the entity receives $50,000 in cash as a donation with the stipulation that the money be used to buy a bus or be returned to the donor. At that time, the entity increases cash and increases contributed revenue under net assets with donor restrictions. On the first day of Year 2, the $50,000 is spent on the bus. The entity reclassifies $50,000 from net assets with donor restrictions to net assets without donor restrictions. At the end of Year 2, the entity records $5,000 as depreciation expense, a figure that is shown as a reduction under net assets without donor restrictions. Required: a. What is the appropriate amount of net assets with donor restrictions to be reported at the end of Year 1? b. What is the appropriate amount of net assets without donor restrictions to be reported at the end of Year 2? c. What is the appropriate amount of expenses to be reported under net assets without donor restrictions for the year ending December 31, Year 2? d. What is the appropriate amount of net assets with donor restrictions to be reported at the end of Year 2?