Presented below are financial statements (except cash flows) for two not-for-profit organizations. Neither organization has any permanently restricted net assets. Statement of Activities ABC Not-for-Profit XYZ Not-for-Profit Temporarily Temporarily Unrestricted Restricted Unrestricted Restricted Revenues $5,595,000 Program service revenue Contribution revenues Grant revenue Net gains on endowment $2,250,000 3.327,500 $ 750,000 3,200.000 96,000 $1,025,000 17,500 investments Net assets released from ion Satisfaction of program 450,000 (450,000)377.000 (377 restrictions 000 Total revenues 9,390,000 396,000 5,827,000 648,000 Expenses Education program expenses 5,621.000 Research program expense1.256,000 1,559,000 2.256000_ Total program service 6.877.000 456,000 650,000 3,815,000 356,000 1,229.000 expenses Fund-raising Administration Total supporting service 1,106,000 7,983,000 1.407.000 4,208,000 1,585,000 5,400,000 Total expenses Increase in net assets Net assets January 1 396.000 427,000 648,000 759,000 1037,500 320,000 Net assets December 31 $5,615,000 $1,155,000 $1,464,500 $ 968.000 STATEMENT OF NET ASSETS ABC Not-for-ProfitXYZ Not-for-Profit Current assets Cash Short-term investments Supplies inventories $ 105,000 265,000 32.000 239,500 641,500 $ 256,000 99.000 150,000 88,500 Total current assets