3. Chip Corporation owns 60 percent of Dip Corporations voting shares. On January 1, 20X2, Chip Corporation sold $150,000 par value, 6 percent first mortgage bonds to Dip for $156,000. The bonds mature in 10 years and pay interest semiannually on January 1 and July 1. What is the amount of interest income and interest expense that would be eliminated at the end of 20X2?

Group of answer choices

$4,500

$5,535

$8,400

$9,000

4.

List the three activity sections of a cash flow statement.