In 2022 , Osgood Corporation purchased $6.9 million worth of 10 -year municipal bonds at face value. On December 31, 2024, the bonds had a fair value of $2,800,000 and Osgood reclassified the bonds from held-to-maturity to trading securities. Osgood's December 31, 2024, balance sheet and the 2024 income statement would show the following: In 2022 , Osgood Corporation purchased $6.9 million worth of 10 -year municipal bonds at face value. On December 31, 2024, the bonds had a fair value of $2,800,000 and Osgood reclassified the bonds from held-to-maturity to trading securities. Osgood's December 31, 2024, balance sheet and the 2024 income statement would show the following