1. Investment in AFS Securities Spotify Ltd's 2020 annual report discloses the following information regarding its investments in AFS securities:
   • 2020 net loss on AFS securities, from the 2020 statement of comprehensive income: $105 million
   • Investment in AFS securities balances at December 31, 2020, and 2019, from the balance sheet: $6,500 million and $5,900 million, respectively
   • Proceeds from 2020 sales or maturities of AFS securities: $5,300 million
   • Gains and losses from 2020 sales or maturities of AFS securities, from the 2020 income statement: gross gains $20 million, gross losses $35 million

Required: a. Assume 2020 reclassifications to income for disposal of AFS securities increased 2020 OCI by $40 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 2020.