In 2019, Osgood Corporation purchased $7.4 million worth of 10-year municipal bonds at face value. On December 31, 2021, the bonds had a fair value of $4,000,000 and Osgood reclassified the bonds from held-to-maturity to trading securities. Osgood's December 31, 2021, balance sheet and the 2021 income statement would show the following: Investment in bonds (TS) Income statement loss on investments a. $ 4,000,000 $ 0 b. $ 4,000,000 $ 3,400,000 c. $ 7,400,000 $ 3,400,000 d. $ 7,400,00