In 2019, Osgood purchased $4 million worth of 10-year municipal bonds at face value. On December 31, 2021, the bonds had a fair value of $3,600,000. Assume Osgood classified the bonds as AFS. Osgood's December 31, 2021, balance sheet and the 2021 income statement would report the following: Investment in bonds Income statement loss on investments a. $ 3,600,000 $ 0 b. $ 3,600,000 $ 400,000 $ C. 4,000,000 $ 400,000 0 d. $ $ 4,000,000