On January 1, Year 1, Prairle Enterprises purchased a parcel of land for $11,200 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 $12.432 In Year 3. 1. Show the effect of the sale on the accounting equation. 2. What amount would Praire 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 $10,528 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 Praire 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. Reg A1 Req A2 and A3 Reg B1 Req B2 and B3 Assume that the land was sold for $12,432 in Year 3. Show the effect of the sale on the accounting equation. (Enter any decreases to account balances with a minus sign.) PRAIRIE ENTERPRISES Year 3 Accounting Equation Stockholders' Equity Land Common Stock Retained Earnings Assets Cash + Reg A2 and Reg A1 Req B2 and B3 A3 Req B1 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? | a-2. of a-3 Cash inflow from investing activities Reg A1 Req A2 and A3 Reg B1 Req B2 and B3 Assume that the land was sold for $10,528 in Year 3. Show the effect of the sale on the accounting equation. (Enter any decreases to account balances with a minus sign.) PRAIRIE ENTERPRISES Year 3 Accounting Equation Stockholders' Equity Land Common Stock Retained Earnings Assets Cash + + Req A1 Req A2 and Req B2 and B3 A3 Req B1 Assume that the land was sold for $10,528 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? b-2. of b-3 Cash inflow from investing activities