Assume that on February 12, First Union Co. purchases for cash 6,000 shares of Gilbert Co. stock at a price of $22 per share plus a $240 brokerage fee. On April 22, a $0.42-per-shares dividend was received on the Gilbert Co. stock. On May 10, 4,000 shares of the Gilbert Co. stock was sold for $28 per share less a $160 brokerage fee. What accounts would be credited on May 10 for the sale of the 4,000 shares of Gilbert Co. Stock for $88,160?

DATE	DESCRIPTION	PREF	DEBIT	CREDIT
May 10	(?)		$111,840
	(?)			$88,160
	(?)			23,680

Answer: Investments Gilbert Co. Stock

Please show me the steps by steps on how to complete the calculations and how this answer is correct.