On January 2, 2019, Pike Corp. purchased $600,000 of Shark Inc. 5.5% bonds to yield 4%. Interest is paid annually on the bonds on each December 31, the bonds mature on December 31, 2022 and have no special features. Pike has a December 31 year end and has determined that the investment is classified as FVOCI On December 31, 2019, the fair value of the bonds was $572,500 Required: a. Justify why Pike has classified the investment as FVOCI (1% marks) b. Prepare the necessary journal entries for the investment for 2019 (7% marks)