on January 1, 2018, prairie enterprises purchased a parcel of land for $12,400

On January 1, 2018, Prairie Enterprises purchased a parcel of land for $12,400 cash. At the time of purchase, the company planned to use the land for a warehouse site. In 2020, Prairie Enterprises changed its plans and sold the land. Required a. Assume that the land was sold for $13,764 in 2020. (1) Show the effect of the sale on the accounting equation (2) What amount would Prairie report on the 2020 income statement related to the sale of the land? (3) What amount would Prairie report on the 2020 statement of cash flows related to the sale of the land? b. Assume that the land was sold for $11,656 in 2020. (1) Show the effect of the sale on the accounting equation (2) What 3) What amount would Prairie report on the 2020 statement of cash flows related to the sale of the land? t amount would Prairie report on the 2020 income statement related to the sale of the land? Complete this question by entering your answers in the tabs below Req A Req A2 and A3Req B1 Req 82 and B3 (1) Show the effect of the sale on the accounting eauation. (Enter anv decreases to account balances with a minus