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On January 1, Year 1, Prairie Enterprises purchased a parcel of land for $13,900 cash: At the time of purchase, the company planned to use the iand for a warehouse site. In Year 3. Prairie Enterprises changed its plans and sold the land. Required a. Assume that the land was sold for $15,429 in Year 3 . (1) Show the effect of the sale on the accounting equation. (2) What amount would Prairie report on the Year 3 income statement related to the sale of the land? (3) What amount would Prairie report on the Year 3 statement of cash flows related to the sale of the land? b. Assume that the land was sold for $13.066 in Year 3. (1) Show the effect of the sale on the accounting equation. (2) What amount would Prairie report on the Year 3 income statement related to the sale of the land? (3) What amount would Prairie report on the Year 3 statement of cash flows related to the sale of the land? Complete this question by entering your answers in the tabs below. (1) Show the effect of the sale on the accounting equation. (Enter any decreases to eccount balances with a minus sign.) On January 1, Year 1, Prairie Enterprises purchased a parcel of land for $13,900 cash: At the time of purchase, the company planned to use the land for a warehouse site. In Year 3, Prairie Enterprises changed its plans and sold the land. Required a. Assume that the land was sold for $15,429 in Year 3. (1) Show the effect of the sale on the accounting equation. (2) What amount would Prairie report on the Year 3 income statement related to the sale of the land? (3) What amount would Prairie report on the Year 3 statement of cash flows related to the sale of the land? b. Assume that the land was sold for $13,066 in Year 3. (1) Show the effect of the sale on the accounting equation. (2) What amount would Prailie report on the Year 3 income statement related to the sale of the land? (3) What amount would Prairie report on the Year 3 statement of cash fiows related to the sale of the land? Complete this question by entering your answers in the tabs below. (2) What amount would Prairie report on the Year 3 income statement related to the sole of the land? (3) What amount would Prairie report on the Yearg statement of cash fows related to the sale of the land? On January 1, Year 1, Pralrie Enterprises purchased a parcel of land for $13,900 cash. At the time of purchase, the company planned to use the land for a warehouse site. In Year 3, Prairie Enterprises changed its plans and sold the land. Required a. Assume that the land was sold for $15.429 in Year 3. (1) Show the effect of the sale on the accounting equation. (2) What amount would Prairie report on the Year 3 income statement related to the sale of the land? (3) What amount would Prairle report on the Year 3 statement of cash flows related to the sale of the land? b. Assume that the land was sold for $13,066 in Year 3. (1) Show the effect of the sale on the accounting equation. (2) What amount would Prairie report on the Year 3 income statement related to the sale of the land? (3) What amount would Prairie report on the Year 3 statement of cash fows related to the sale of the land? Complete this question by entering your answers in the tabs below. (1) Show the effect of the sale on the accounting equation. (Enter any decreases to account balances with a minus sign.) On January 1, Year 1, Prailie Enterprises purchased a parcel of land for $13,900 cash. At the time of purchase, the company planned to use the land for a warehouse site in Year 3, Prairie Enterprises changed its plans and sold the land. Required a. Assume that the land was sold for $15.429 in Year 3 . (1) Show the effect of the sale on the accounting equation. (2) What amount would Prairie report on the Year 3 income statement related to the sale of the land? (3) What amount would Prainie report on the Year 3 statement of cash flows related to the sale of the land? b. Assume that the iand was sold for $13,066 in Year 3. (1) Show the effect of the sale on the accounting equation. (2) What amount would Prairle report on the Year 3 income statement related to the sale of the land? (3) What amount would Prairie report on the Year 3 statement of cash flows related to the sale of the tand? Complete this question by entering your answers in the tabs below. (2) What amount would Prairie report on the Year 3 income statement related to the sale of the land? (3) What amount would Prairie report on the Year 3 income statement related to the sale of the land? 3 statement of cash flows related to the sale of the land