On January 1, 2010, Acker Inc. had the following statement of financial position.

The accumulated other comprehensive income related to unrealized holding gains on non-trading equity investments. The fair value of Acker Inc.’s investments at December 31, 2010, was €190,000; its cost was €140,000. No securities were purchased during the year. Acker Inc.’s income statement for 2010 was as follows. (Ignore income taxes.)
ACKER INC.
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2010
Dividend revenue ..............................................€ 5,000
Gain on sale of equity investments .....................30,000
Net income ......................................................€35,000
Instructions
(Assume all transactions during the year were for cash.)
(a) Prepare the journal entry to record the sale of the equity investments in 2010.
(b) Prepare a statement of comprehensive income for 2010.
(c) Prepare a statement of financial position as of December 31,2010.

ACKER INC. STATEMENT OF FINANCIAL POSITION As oF JANUARY 1, 2010 Assets Equity Equity investments 240,000 Share capital Cash 260,000 30,000 50,000 Accumulated other comprehensive income 290,000 Total Total 290,000