3 If a company is considering the purchase of a parcel of land that was acquired by the seller for $88,000 is offered for sale at $156,000, is assessed for tax purposes at $98,000, is considered by the purchaser as easily being worth $146,000, and is purchased for $143,000, the land should be recorded in the purchaser's books at: Saddleback Company paid off $42,000 of its accounts payable in cash. What would be the effects of this transaction on the accounting equation? Charlie's Chocolates' had stock issuances of $90,000 and dividends of $40,000. The company has revenues of $123,000 and expenses of $84,000. Calculate its net income