Use the Information Below to Answer the Following Questions

Multiple Choice

Use the information below to answer the following questions:
Equipment with a cost of $160 000 has an estimated residual value of $10 000 and an estimated useful life of 4 years.
-Consider the following transactions:
(i) Equipment with a book value of $100 000 is sold for $130 000 cash.
(ii) Land is revalued upwards from $1m to $1.5m.The land has not previously been revalued downwards.
Which of the above transactions increases or decreases profits?

A) (i) only
B) (ii) only
C) (i) and (ii) only
D) Neither.