Fuzzy Monkey Technologies Inc purchased as a long$-$term investmetn $$60$ million of $6\%$ bonds, dated Jan $1,$ on Jan $12021.$Management has the positive intent and ability to hold the bonds until maturity. For bonds of similar risk and maturity the market yield was $8\%.$ The price paid for the bonds was $$46$ million. Interest is received semianually on June $30$ and Dec $31.$ Due to changing market conditions the fair value of the bonds at Dec $312021$ was $$50$ million.

$1$ to $3.$ Prepare the relevant journal entries on the respective dates.

$4.$ At what amount will Fuzzy Monkey report its investment in Dec $31,2021$ balance sheet?

$5.$ How would Fuzzy Monkey's $2021$ statement of cash flows be affected by this investment?