A company invests $$700,000$ in corporate bonds in $2023$ and classifies them as available$-$for$-$sale. At the end of $2023,$ the fair value of the securities is $$650,000.$ In $2024,$ the company sells the bonds for $$706,000.$

Which statement is true concerning the entry made to record the sale of the bonds in $2024?$

Select one:

a$.$

Other comprehensive income declines by $$50,000,$ and income increases by $$6,000.$

b$.$

Other comprehensive income increases by $$50,000$ and income increases by $$6,000.$

c$.$

Other comprehensive income increases by $$6,000,$ and there is no effect on income.

d$.$

There is no effect on other comprehensive income, and income increases by $$6,000.$