Analysis of financial statement disclosures related to marketable securities and quality of earnings. A commercial bank reports the following information relating to its marketable securities classified as securities available for sale for a recent year (amounts in millions):

Cash proceeds from sales and mat unties of marketable securities totaled $37,604 million in 2009. Gross realized gains totaled $443 million, and gross realized losses totaled $113 million during 2009. The carrying value of marketable securities sold or matured totaled $37,008 million. Interest and dividend revenue during 2009 totaled $1,081 million. Purchases of marketable securities totaled $37,163 million during 2009.
a. Give the journal entries to record the sale of marketable securities during 2009.
b. Analyze the change in the net unrealized holding gain from $447 million on December 31, 2008, to $1,227 million on December 31, 2009.
c. Compute the total income (both realized and unrealized) occurring during 2009 on the bank's investments in securities.
d. How might the judicious selection of marketable securities sold during 2009 permit the bank to report an even larger net realizedgain?

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December 31 2008 $14,075 957 2009 Marketable Securities at Acquisition Cost Gross Unrealized Holding Gains ..... Gross Unrealized Holding Losses Marketable Securities at Fair Value $13,958 1,445 (218) (510) $15,195 $14,522