Question 29 (5 points) Martin, Inc. purchased a piece of land for $30,000 on which it intended to build a warehouse. Two years later, Martin decided instead to lease an existing warehouse and sold the land for $40,000. Which of the following is true with regard to the sale of the land? The sale will result in a loss of $10,000 being recorded O The sale will result in revenues of $40,000 being recorded O The sale will result in a gain of $10,000 being recorded The sale will result in cost of goods sold of $30,000 being recorded