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On January 1, 2022, Garfield AG made an investment in 80,000 of the 9%, 5-year bonds of Chester Corporation for 80,000. Garfield AG plan to
On January 1, 2022, Garfield AG made an investment in 80,000 of the 9%, 5-year bonds of Chester Corporation for 80,000. Garfield AG plan to actively trade the bonds to profit from market interest rate changes. The fair value of the bonds is 74,000 at December 31. What is the total income that Garfield will report in its income statement form this investment for the year
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