Austin Land Company sold land for $$61,420$ in cash. The land was originally purchased for $$34,560.$ At the time of the sale, $$12,330$ was still owed to Regions

Bank. After the sale, Austin Land Company paid off the loan. Explain the effect of the sale and the payoff of the loan on the accounting equation. Enter all dollar

amounts as positive numbers.

Total assets

Total liabilities

Stockholders' equity

: $