On January 1, 2014, Acker Inc. had the following balance sheet.

The accumulated other comprehensive income related to unrealized holding gains on available-for-sale securities. The fair value of Acker Inc.'s available-for-sale securities at December 31, 2014, was $190,000; its cost was $140,000. No securities were purchased during the year. Acker Inc.'s income statement for 2014 was as follows. (Ignore income taxes.)

Instructions
(Assume all transactions during the year were for cash.)
(a) Prepare the journal entry to record the sale of the available-for-sale securities in 2014.
(b) Prepare a statement of comprehensive income for 2014.
(c) Prepare a balance sheet as of December 31, 2014?

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ACKER INC. BALANCE SHEET As OF JANUARY 1, 2014 Assets Equity $ 50,000 Common stock Cash Equity investments (available-for-sale) $260,000 30,000 Accumulated other comprehensive income Total Total $290,000 $290,000 ACKER INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2014 Dividend revenue Gain on sale of investments Net income $ 5,000 30,000 $35,000