Step-by-step explanation:
since it's given that
Acquiring value of the vacant lot =$115,000
Sale value of the vacant lot in cash=$298,000
Since the sale value is more than the Acquiring value which reflects the increment in the asset for $183,000 due to which the profit is also increased for $183,000 i.e. retained earnings
Now the effect is shown below
1. Assets = increase = $183,000
2. Liabilities = no change = $0
3. Stockholder Equity = Increased= $183,000