The following information was available in the Beige State College financial records for the fiscal year ending May 31, 20X3. Beige State College is a governmental, nonprofit college. BEIGE STATE COLLEGE INFORMATION RELATED TO REVENUES FOR FISCAL YEAR ENDING MAY 31, 20X3 Tuition and Fees Endowment Gifts 250,000 100,000 Investment Income 350,000 Federal Grants Capital Gifts Not Capitalized State Appropriations Private Gifts For Operating Purposes 500,000 200,000 400,000 50,000 REQUIRED: (1) What amount would be recorded as operating revenue? Show supporting calculations. What amount would be recorded as nonoperating revenue? Show supporting calculations. (2)