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Myriad Solutions, Inc., issued 10% bonds, dated January 1, with a face amount of $340 million on January 1, 2016 for $301,000,640. The bonds mature
Myriad Solutions, Inc., issued 10% bonds, dated January 1, with a face amount of $340 million on January 1, 2016 for $301,000,640. The bonds mature on December 31, 2025 (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. (Enter your answers in whole dollars.) Bond Interest Expense Discount Amortization Carrying Value Period-End Cash Interest Paid 01/01/2016 06/30/2016 12/31/2016 0 Total $ Indicate the amounts reported on the financial statements below for the year ending December 31, 2016 (Any outflow of cash should be indicated by a minus sign. Round your answer to nearest whole dollar. Enter your answers in whole dollars.) Balance sheet: Net liability Income statement Interest expense Statement of cash flows Operating Investing Financing
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