ther important document... M Connect Help Saved Save & Exit Submit 8 - NFP - Graded HW 2 Check my work Part 1 During the current year, a donor gives $587,000 in cash to the school and stipulates that it must hold this money forever. However, any investment income earned on this money must be used for faculty salaries. During the current year, the investment earned $37,000 and, of that amount, the school has expended $26,000 appropriately to date. As a result of these events, what was the overall change in each of the following for the current year? a. Unrestricted net assets. b. Temporarily restricted net assets. c. Permanently restricted net assets. Book Print rences Part 2 A donor gives a large machine to the school on January 1 of the current year. It has a value of $188,000, no salvage value, and a 16-year life. The donor requires that the school keep the machine and use it for all 16 years, and the school agrees. It cannot sell or retire the machine in the interim. As a result of these events, what was the overall change in each of the following for the current year? a. Unrestricted net assets. b. Temporarily restricted net assets. c. Operating expenses. Part 3 Several years ago, a donor gave the school $480,000 in cash to help fund its financial aid program. This year, the school charged $2.20 million in tuition but granted $740,000 in financial aid. Collections to date from the students have totaled $1.30 million. The donor's gift has offset $260,000 of the financial aid. As a result of these events, what was the overall change in each of the following for the current year? Check my work Part 3 Several years ago, a donor gave the school $480,000 in cash to help fund its financial aid program. This year, the school charged $2.20 million in tuition but granted $740,000 in financial aid, Collections to date from the students have totaled $1.30 million. The donor's gift has offset $260,000 of the financial aid. As a result of these events, what was the overall change in each of the following for the current year? a. Unrestricted net assets. b. Operating expenses. c. Temporarily restricted net assets. (If no change, select "No net change" for each item. Enter your answers in dollars not in millions.) Part 1 a Unrestricted net assets b. Temporarily restricted not assets. c. Permanently restricted net assets. Part 2 a. Unrestricted net assets. b. Temporarily restricted net assets. c. Operating expenses. Part 3 a. Unrestricted net assets b. Operating expenses. c. Temporarily restricted net assets.