On January 1, 2012, 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, 2012, was $190,000; its cost was $140,000. No securities were purchased during the year. Acker Inc.'s income statement for 2012 was as follows. (Ignore income taxes.)ACKER INC.INCOME STATEMENTFOR THE YEAR ENDED DECEMBER 31, 2012Dividend revenue ..........$ 5,000Gain on sale of investments .......30,000Net income .............$35,000Instructions(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 2012.(b) Prepare a statement of comprehensive income for 2012.(c) Prepare a balance sheet as of December 31,2012.

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ACKER INC. BALANCE SHEET As OF JANUARY 1, 2012 Assets Equity Common stock Accumulated other comprehensive income Total Cash Equity investments (available-for-sale) Total $260,000 240,000 $290,000 $290,000