14 Book Saturn Corporation issued $300,000 par value 10-year bonds at 107 on January 1, 20X3, which Star Corporation purchased. On July 1, 20X7, Pluto Corporation purchased $120,000 face value of Saturn bonds from Star. The bonds pay 12 percent interest annually on December 31. The preparation of consolidated financial statements for Saturn and Pluto at December 31, 20X9, required the following consolidation entry: Bonds Payable Premium on Bonds Payable Interest Income 120,000 2,520 14,760 Investment in Saturn Corporation Bonds Interest Expense 118,920 13,560 Investment in Saturn Corporation Stock 3,120 NCI in NA of Saturn Corp. 1,680 Based on the information given above, what amount of gain or loss on bond retirement is included in the 20X7 consolidated income Multiple Choice $6,600 $4,800 $6,000 $5.400