In July $20$X$2,$ Ross donated $$200,000$ cash to a church with the stipulation that the revenue generated from this gift be paid to him during his lifetime. The conditions of this donation are that after Ross dies, the church may use the principal for any purpose voted on by its elders. The church received interest of $$16,000$ on the $$200,000$ for the year ended June $30,20$X$3,$ and remitted the interest to Ross. The church$$s June $30,20$X$3,$ annual financial statements should report

Multiple Choice

$$200,000$ as net assets with donor restrictions in the balance sheet.

$$184,000$ as revenue in the activity statement.

$$216,000$ as revenue in the activity statement.

Both $$200,000$ as net assets with donor restrictions in the balance sheet and $$216,000$ as revenue in the activity statement.