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In 2016, Osgood Corporation purchased $8.0 million of 10-year municipal bonds at face value. On December 31, 2018, the bonds had a fair value of

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In 2016, Osgood Corporation purchased $8.0 million of 10-year municipal bonds at face value. On December 31, 2018, the bonds had a fair value of $4,200,000 and Osgood reclassified the bonds from held to maturity to trading securities. Osgood's December 31, 2018, balance sheet and the 2018 income statement would show the following: gu Income Investment in statement loss municipal bonds on investments 4,200,000 a. b. 4,200,000 3,800,000 3,800,000 8,000,000 C. d. 8,000,000 C Po Multiple Choice rem Option a Option b Multiple Choice Option a Option b Option d Option c

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