On January 1. Year 1, Prairle Enterprises purchased a parcel of land for $12,800 cash At the time of purchase the company planned to use the land for a warehouse Site In Year 3. Prairie Enterprises changed its plans and sold the land Required a. Assume that the land was sold for $14,208 in Year 3. 1. Show the effect of the sale on the accounting equation 2. What amount would Prairle report on the Year 3 income statement related to the sale of the land? 3. What amount would Prairie report on the Year]3 statement of cash flows related to the sale of the land? b. Assume that the land was sold for $12,032 in Year 3 1. Show the effect of the sale on the accounting equation 2. What amount would Prairie report on the Year 3 income statement related to the sale of the land? 3. What amount would Prairie report on the Year 3 statement of cash flows related to the sale of the land? Complete this question by entering your answers in the tabs below. 2. What amount would Prairie report on the Year 3 income statement related to the sale of the land? 3. What amount would Prairie report on the Year 3 statement of cash flows related to the sale of the lan Complete this question by entering your answers in the tabs below. Req A1 Req A2 and A3 Reg B1 Req B2 and B3 Assume that the land was sold for $12,032 in Year 3. Show the effect of the sale on the accounting equation. (Enter any decreases to account balances with a min PRAIRIE ENTERPRISES Year 3 Accounting Equation Stockholders' Equity Land Common Stock Retained Earnings Assets Cash + 2. What amount would Prairie report on the Year 3 Income statement related to the sale of the land? 3. What amount would Prairie report on the Year 3 statement of cash flows related to the sale of the lande Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 and A3 Req B1 Reg B2 and 33 1 Assume that the land was sold for $12,032 in Year 3. What amount would Prairie report on the Year 3 income statement related to the sale of the land What amount would Prairie report on the Year 3 statement of cash flows related to the sale of the land? 16-2. of b-3. Cash inflow from investing activities