Knowledge Check 01 fluctuations. The fair value of those bonds decreased by $5,000 to $45,000 on December 31 , Year 1 . Which of the following statements are correct with regards to this investment? Note: Select all that apply. Check All That Apply The bonds should be reported among current assets in the balance sheet at December 31 , Year 1. At December 31 , Year 1 , the $5,000 decrease in fair velue should be ignored. The bonds should be reported at their fair value of $45,000 in the balance sheet at December 31 , Year 1. An unrealized holding gain in the amount of $5,000 should be included in net income in the income statement prepared for Year 1