A private, not-for-profit hospital received the following restricted contributions and other receipts during the year ended December 31, 20X8: (1)For research$300,000 (2)For equipment acquisitions$200,000 (3)Income from endowment to be used for newaddition to hospital plant$1,000,000 None of the contributions or other receipts were expended during the ended December 31, 20X8. For the year ended December 31, 20X8, what amount would be reported on the hospital's statement of changes in net assets as an increase in net assets with donor restrictions?
A. $500,000
B. $1,500,000
C. $1,200,000
D. $300,000
Answer: B
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