Land Was Originally Purchased for $20,000

Land was originally purchased for $20,000. It is sold for $20,000 in cash. How does the sale affect the accounting equation?

A) Assets increase $65, 000; liabilities decrease $20, 000; owner's equity increases $45, 000.
B) Assets increase $20, 000; there is no change in liabilities; owner's equity increases $55, 000.
C) Assets increase $65, 000; owner's equity increases $65, 000.
D) Assets increase $45, 000; owner's equity increases $45, 000.