On December 20, 2011, United Appeal, a private not-for-profit voluntary health and welfare organization, received a donation of computer equipment valued at $25,000 from a local computer retailer. The equipment is expected to have a useful life of three years. The donor placed no restrictions on how long the computer equipment was to be used, and United has an accounting policy that does not imply a time restriction on gifts of long-lived assets. On United's statement of activities prepared for the year ended December 31, 2011, the donation of computer equipment should be reported
a. As an increase in temporarily restricted net assets.
b. Only in the notes to the financial statements.
c. As an increase in unrestricted net assets.
d. As either an increase in temporarily restricted net assets or as an increase in unrestricted net assets.