4. (9 points) Effect of Valuation Method for Nonmonetary Asset on Balance Sheet and Income Statement. Assume Target acquires a tract of land on January 1, 2020, for 104000 cash. On December 31, 2020, the current market value of the land is 159000 . On December 31,2021 , the current market value of the land is 117000 . The firm sells the land on December 31, 2022, for 186000 cash. Ignoring income taxes, complete the following items. (a) Assuming valuation of the land at acquisition cost until sale of the land (Approach 1), indicate the dollar effect of the information on net income for: 1. 2020 2. 2021, and 3. 2022. (b) Assuming valuation of the land at current market value and including market value changes each year in net income (Approach 2), indicate the dollar effect of the information on net income for: 1. 2020 2. 2021, and 3. 2022. (c) Assuming valuation of the land at current market value but including unrealized gains and losses in accumulated other comprehensive income until sale of the land (Approach 3), indicate the dollar effect of the information on net income for: 1. 2020 2. 2021, and 3. 2022