Please try to answer the required questions: a, b, & c

Let Me Loos, Ltd. exchanged land for equipment. The land had a book value of $64,700 and a fair value of $76,200. Let Me Loos, Ltd. paid the owner of the equipment $2,500 to complete the exchange, which has commercial substance. Required: a) What is the fair value of the equipment? Prepare the journal entry to record the exchange. b) Assume the same facts above, except that Let Me Loos, Ltd. received $2,500 from the owner of the equipment to complete the exchange. What is the fair value of the equipment? Prepare the journal entry to record the exchange. c) for both parts a) and b), determine the impact of each exchange on Let Me Loos, Ltd.'s statement of cash flows, including the impact on net operating cash flows, net investing cash flows, net financing cash flows, and significant noncash transactions. Ignore the tax impact