3. The proposed sale of the Bowie plant is part of the effort to divest the company of underperforming assets. A total of $1.2 billion in assets, with a book value of $650 million, have been identified for potential sale. Assuming that all these sales could be accomplished in 2021, identify the major impacts on the following:

a. Balance Sheet, especially these accounts:

• Property, plant, and equipment
• Accumulated depreciation
• Net property, plant, and equipment

b. Statement of Cash Flows, especially the Long-Term Investing Activities

c. Income Statement

Explain the potential impacts, both positive and negative, of these changes for LGI.