On May 1, 2013, Company A had bonds payable equal to $50,000 reported on its balance sheet. The unamortized discount attributable to the bonds equaled $1,140 on this date. If Company A retires the bonds for $52,000, what will be the effect on the income statement? There will be a loss on retirement of $3,140. There will be a gain on retirement of $3,140. There will be sales revenue of $3,140. There will be no effect on net income