Land, originally purchased for $27,881, is sold for $77,982 in cash. What is the effect of the sale on the accounting equation? a. assets increase by $50,101; stockholders' equity increases by $50,101 b. assets increase by $18,753; no change in liabilities; stockholders' equity increases by $77,982 c. assets increase by $77,982; stockholders' equity increases by $77,982 d. assets increase by $77,982; liabilities decrease by $27,881; stockholders' equity increases by $50,101

Land, originally purchased for $27,881, is sold for $77,982 in cash. What is the effect of the sale on the accounting equation? a. assets increase by $50,101; stockholder' equity increases by $50,101 b. assets increase by $18,753; no change in liabilities; stockholder' equity increases by $77,982 c. assets increase by $77,982; stockholder' equity increases by $77,982 d. aksets increase by $77,982; liabilities decrease by $27,881; sockholdes' equity increases by $50,101