Purchased a piece of land and settled the purchase by issuing a note of two years and paying cash. Transaction / event 2 Disposed a fully depreciated equipment at a price higher than its net book value. Transaction / event 3 Provided for annual depreciation of a lorry. Required: Using the format below, indicate the effects of each of the transactions and events on the income statement and statement of financial position. Use I to indicate increase, D to indicate decrease and NE to indicate no effect. Transaction /Event RE=P;CA+NCA=Cl+NCL+E