Land originally purchased for $27,088 is sold for $76,022 in cash. What is the effect of the sale on the accounting equation?

a.assets increase by $20,836; no change in liabilities; owner's equity increases by $76,022

b.assets increase by $76,022; liabilities decrease by $27,088; owner's equity increases $48,934

c.assets increase by $48,934; owner's equity increases by $48,934

d.assets increase by $76,022; owner's equity increases by $76,022