$3.$ Gamma Corporation purchased an investment in $$70,000,000$ face value $6$ percent bonds in Brass Monkey Corporation dated January $1,2023$ for $$66,666,633.$ For bonds of comparable risk, the current market rate is $7$ percent. Interest is received semi$-$annually on June $30,$ and December $31.$ On December $31,2023$ the FMV of the bond was $$67,200,000.$

$($a$)$ Prepare all necessary journal entries for $2023$ assuming Gamma holds the bonds as available for sale. Show calculations.

$($b$)$ Show how the above activity would be presented on the Company$$s Income statement $($Statement of Comprehensive Income$)$ and the year$-$end balance sheet for the Investment. Be precise!