The following transactions pertain to the activities of the Lexington Players (LP), a private not-for-profit theater. For each transaction below, state which classification of net assets is correct:

A. Affects Net Assest Without Donor Restrictions Only

B. Affects Net Assets With Donor Restrictions Only

C. Affects Both Net Assets With and Without Donor Restrictions

D. Affects Neither Net Assets With Nor Without Donor Restrictions

1. A wealthy theater patroness makes an unrestricted donation of $100,000 to LP with the stipulation that LP must raise $200,000 in new contributions within the next year or her donation must be returned. No new contributions have been raised at this point.

2. LP meets the stipulations of the wealthy theater patroness and raises the required funds.

3. Lady Gaga pledges to give $1,000,000 to LP. The gift is without restrictions but will not be received until next year.

4. LP receives $1,000,000 from Lady Gaga in satisfaction of her pledge.