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2. Apple owns 80% of Pear. Apple had a bond payable outstanding on January 1, 2010 with a book value of $212,000. Pear purchases the

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2. Apple owns 80% of Pear. Apple had a bond payable outstanding on January 1, 2010 with a book value of $212,000. Pear purchases the bond in the open market for $199,000. How much is the gain or loss on retirement of the bond (show your calculation). 3. Same facts as $2 with Pear reporting interest income of $22,000 and Apple reporting interest expense of $21,000. How much is consolidated income in 2010

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