Land, originally purchased for $28, 983, is sold for $78, 575 in cash. What is the effect of the sale on the accounting equation? Select the correct answer. assets increase $78, 575; stockholders' equity increases $78, 575 assets increase $49, 592; stockholders' equity increases $49, 592 assets increase $78, 575; liabilities decrease $28, 983; stockholders' equity Increases $49, 592 assets increase $18, 912; no change for liabilities; stockholders' equity increases $78, 575