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40. A parcel of land that was originally purchased for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is purchased for $137,000. At the time of the sale, assume that the seller still owed $30,000 to Hurwitz's Bank on the land that was purchased for $85,000. Immediately after the sale, the seller paid offthe loan to Hurwitz Bank. What are the effect of the sale and the payoff of the loan on the accounting equation? A. Assets increase $52,000; owner's equity increases $22,000; liabilities decrease $30,000 B. Assets increase $52,000; owner's equity increases $30,000; liabilities decrease $30,000 C. Assets increase $22,000, owner's equity increases $52,000; liabilities decrease $30,000 D. Assets decrease $30,000; owner's equity decreases $30,000; liabilities decrease $30,000 E. Assets decrease $55,000; owner's equity decreases $55,000; liabilities decrease $30,000