The Watson Foundation, a private not$-$for$-$profit entity, starts $2024$ with cash of $$100,000$; contributions receivable $($net$)$ of $$200,000$; investments of $$300,000$; and land, buildings, and equipment $($net$)$ of $$200,000.$ Net assets without donor restrictions were reported as $$400,000,$ the same figure as the net assets with donor restrictions. Of the restricted net assets, $$300,000$ was purpose restricted, whereas the other $$100,000$ had to be held permanently, although the subsequently earned income is without restriction. Fifty percent of the purpose$-$restricted net assets had to be used to help pay for a new building. The remainder was restricted to the payment of officer salaries. Donors made no stipulations about the eventual reporting of buildings and other long$-$lived assets when acquired. Watson has one program service $($health care$)$ and two supporting services $($fundraising and administrative$).$

During the current year, Watson Foundation has the following transactions:

Computes interest of $$20,000$ on the unrestricted contribution receivable.

Receives cash of $$100,000$ from the contributions receivable and wrote off another $$4,000$ as uncollectible.

Receives unrestricted cash donations of $$180,000.$

Receives $$23,000$ in cash that must be spent for a particular type of office machine within the next year or the money must be returned.

Pays salaries of $$90,000.$ Of that amount, $$27,000$ came from restricted funds. The payment was made to individuals doing health care work.

Spends the $$23,000$ in $(4)$ for the appropriate office machine.

Receives a cash gift of $$12,000$ that Watson must convey to another specified charity. However, Watson has the right to give this money to a different organization if officials so choose.

Buys a building for $$500,000$ by signing a long$-$term note for $$450,000$ and using restricted funds for the remainder.

Collects annual membership dues of $$30,000.$ Individuals receive substantial benefits from their memberships. By the end of the year, two$-$thirds of the time for the average membership has passed.

Receives unrestricted income of $$52,000$ generated by net assets that must be held permanently.

The board of directors of the Watson Foundation votes to set section $$9,000$ of its investments for emergency purposes.

Pays rent of $$12,000$ for the past month, advertising of $$15,000,$ and utilities of $$16,000.$ These were half for the program service and one$-$fourth each for the two supporting services.

Receives an unrestricted pledge of $$200,000.$ Watson will collect the money in five years and does not expect any part to be uncollectible. Present value at inception is $$149,000,$ but interest for the year to date is $$6,000.$

Computes depreciation of $$40,000,60$ percent for health care, $30$ percent for administrative, and $10$ percent for fundraising.

Pays $$15,000$ in interest on the note signed in $(8).$ All of this cost is assumed to be related to health care.