18) On July 1, 2025, Michigan Company has bonds with balances as shown below. Bonds Payable = $69,000 Premium on Bonds Payable= $4,000 If the company retires the bonds for $69,150, what will be the effect on the income statement? A) gain on retirement of $4,150 B) loss on retirement of $4,150 C) gain on retirement of $3,850 E) none of the above D) loss on retirement of $3,850