1. Investment in AFS Securities IBM Corporation's 2017 annual report discloses the following information regarding its investments in AFS securities:
   • 2017 net gain on AFS securities, from the 2017 statement of comprehensive income: $60 million
   • Investment in AFS securities balances at December 31, 2017, and 2016, from the balance sheet: $4,600 million and $4,100 million, respectively
   • Proceeds from 2017 sales or maturities of AFS securities: $3,900 million
   • Gains and losses from 2017 sales or maturities of AFS securities, from the 2017 income statement: gross gains $16 million, gross losses $12 million

Required: a. Assume 2017 reclassifications to income for disposal of AFS securities increased 2017 OCI by $20 million. Prepare the summary entry to record the sale of the securities. b. Prepare the adjusting entry to record unrealized gains or losses on AFS securities on hand at year-end. c. Prepare the entry to record new investments in AFS securities in 2017.