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Myriad Solutions, Inc., issued 10% bonds, dated January 1, with a face amount of $320 million on January 1, 2018, for $283,294,720. The bonds mature
Myriad Solutions, Inc., issued 10% bonds, dated January 1, with a face amount of $320 million on January 1, 2018, for $283,294,720. The bonds mature on December 31, 2027 (10 years). For bonds of similar risk and maturity the market yield is 12%. Interest is paid semiannually on June 30 and December 31. Required: Complete the table below to calculate the amounts related to the bonds that Myriad would report in its financial statements. Indicate the amounts reported on the financial statements below for the year ending December 31, 2018. Complete this question by entering your answers in the tabs below. Calculation Financial Statement Complete the table below to calculate the amounts related to the bonds that Myriad would report in its financial statements. (Round your answers to the nearest whole dollar.) Cash Interest Paid Bond Interest Expense Discount Amortization Carrying Value Period- End 01/01/2018 06/30/2018 12/31/2018 Total $ 0 $ 0 Calculation Financial Statement > Calculation Financial Statement Indicate the amounts reported on the fina cash should be indicated by a minus sign. Balance sheet: Net liability Income statement: Interest expense Statement of cash flows: Operating Investing Financing
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