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| On December 30, year 1 , the Board of Trustees of Berry College, a private not-for-profit college, designated $4,000,000 of unrestricted net assets for the construction of an addition to its science building. What effect does this designation have on the college’s unrestricted and temporarily restricted net assets which are reported on the college’s statement of financial position at December 31, year 1 ? Unrestricted net assets Temporarily restricted net assets A No effect Increase B Decrease Increase C Decrease No effect D No effect No effect |