On January $12022,$ Sunland Corp bought $31,000$ shares of the available $100,000$ common shares of Iceberg a publicly traded firmThis acquisition provided Sunland with significant influenceSunland paid $$693,000$ cash for the investmentAt the time of the acquisition, Iceberg reported assets of $$2\mathrm{.}523\mathrm{.}000$ and of $$1,195,000$Asset values reflected fair market valueexcept for capital assets that had a net book value of $$540,000$ and a fair market value of $$754,000$These assets had a remaining useful of five yearsFor $2022$ Iceberg reported net income of $$418,000$ and paid total cash dividends of $\backslash$$$100,000.$ On May $162023$Sunland sold $15\mathrm{.}500$ of its shares in loeberg for $ $425\mathrm{.}000$Sunland has no immediate plans to sell its investment in Iceberg Iceberg is actively tradedand stock price information : January $1202220$ December $31,202222$ January $12023523$ Assuming under ASPE the$$a$$payment$$for At the end of $2022$what would appear on the income statement and balance sheet of Sunland in connection with its investment in Iceberg $?$ Investment income on income statement Investment account on balance sheet eTextbook and Media List of Accounts Submit Answer Save for Attempts : $0$ of $3$ used Provide the entry to account for Sunland's sale of the shares in May $2023.($Credit account titles are automatically indented when the amount is entered $.$ Do not indent manuallyIf no entry is nequined $,$ select No Entry for the account titles and enter for the amounts List debit entry before credit entry$)$ Debit Credit Account Titles How account for investment in iceberg for Under ASPE can$$choose$$the$$in