21. On January 1, 2020, Temperance Company purchased bonds with face amount of P4,000,000 for P4,320,000 plus brokerage commission of P80,000. The stated interest rate is 8% payable annually every December 31 with an effective rate of 6%. On December 31, 2020, the bonds had a fair value of P4,480,000. Temperance has elected the fair value option for the bond investment. Required: a.) Interest income for 2020 b.) Carrying value of the bond investment as of December 31, 2020 22. What amount of unrealized loss should be reported as a component of other comprehensive income in 2021?* For items 22 and 23 On January 1, 2020, Prudence Company purchased bonds with face value of P2,000,000 for P2,103,000. The business model of the entity in managing the financial asset is to collect contractual cash flows that are solely payment of principal and interest and also to sell the binds in the open market. The entity has not elected the fair value option of measuring financial asset. The mature on December 31, 2022 and pay 10% interest annually on December 31 each year with 8% effective yield. The bonds are quoted at 95 on December 31, 2020 and 90 on December 31, 2021. 23.) What amount of cumulative unrealized loss should be reported in the statement of changes in equity on December 31, 2021? * For items 22 and 23 On January 1, 2020, Prudence Company purchased bonds with face value of P2,000,000 for P2,103,000. The business model of the entity in managing the financial asset is to collect contractual cash flows that are solely payment of principal and interest and also to sell the binds in the open market The entity has not elected the fair value option of measuring financial asset. The mature on December 31, 2022 and pay 10% interest annually on December 31 cach year with 8% effective yield. The bonds are quoted at 95 on December 31, 2020 and 90 on December 31, 2021. 24.Courage Company purchased 4,000, P1,000 face amount, 9% bonds to yield 10%. The carrying amount of the bonds on January 1, 2020 was P3,900,000. The bonds mature on June 30, 2023 and pay interest semiannually on June 30 and December 31. The entity sold 2,000 bonds on March 1, 2020 for P2,000,000 after the interest has been received What amount should be recognized as gain on sale of bonds