On January 1 2008 Enid Inc had the following balance

On January 1, 2008, Enid 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 Enid Inc.’s available-for-sale securities at December 31, 2008, was $190,000; its
cost was $120,000. No securities were purchased during the year. Enid Inc.’s income
statement for 2008 was as follows.(Ignore income taxes.)Enid Inc.Income StatementFor the
Year Ended December 31, 2008Dividend revenue ..............$15,000Gain on sale of available-for-
sale securities ......20,000Net 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 2008.(b) Prepare a statement of comprehensive income for 2008.(c)
Prepare a balance sheet as of December 31,2008.
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On January 1 2008 Enid Inc had the following balance
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