E $10-5$

Bonds; issuance; effective interest; financial statement effects LO$10-2$

Myriad Solutions Ltd issued $10\%$ bonds, dated January $1,$ with a principal amount of $$320$ million on January $1,2022$ for $$283,294,720.$ The bonds mature in $2032(10$ years$).$ For bonds of similar risk and maturity, the market yield is $12\%.$ Interest is paid semiannually on June $30$ and December $31.$

Required:

What would be the net amount of the liability Myriad would report in its statement of financial position at December $31,2022?$

What would be the amount related to the bonds that Myriad would report in its income statement for the year ended December $31.2022?$

What would be the amount$($s$)$ related to the bonds that Myriad would report in its statement of cash flows for the year ended December $31,2022?$