46) On July 1, 2019, Montana Company has bonds with balances as shown below. Af Bonds Payable to 70,000 as banget TOM 16 amstiwalo se o iw ten Sanotesgo Discount on Bonds Payable 3600 If the company retires the bonds for $71,150, what will be the effect on the income statement? A) Joss on retirement of $4750 B) gain on retirement of $4750 C) sales revenue of $66,400 D) no effect on net income