Effect of Transactions on Accounting Equation 1!. A vacant lot acquired for $263,000 is sold for $507,500 in cash. What is the effect of the sale on the total arnount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? If there is no change, select 'No change' from the dropdown and then enter a "0" in the amount box. Effect Amount 2. Total Liabilities ' Decreased 3. Stockholders' Equity Increased b. Assume that the seller owes $73,50I No Change the land. After receiving the $507,500 cash in {a}. the seller nave th :6. What is: the effect of the r\".gg.co