Aaron, a holder of a $200,000 Post Inc. bond, collected the interest due on June 30, 20X2, and then sold the bond to Stick Inc. for $185,000. On that date the bond issuer, Post, an 80 percent owner of Stick, had a $220,000 carrying amount for this bond. Based on the information given above, what amount of gain or loss on bond retirement was recorded during the consolidation process?

		$35,000 loss
		No gain or loss
		$35,000 gain
		$15,000 loss