Question 16 Not yet answered On January 1, 2021, Gorski Corp. purchased $1,000,000, 10% bonds for $1,040,000. These bonds were to mature on January 1, 2031, but were redeemable at 102 any time after December 31, 2024. Interest was payable semiannually on July 1 and January 1. On July 1, 2026, Gorski redeemed all of the bonds. Bond premium was amortized on a straight-line basis. Gorski's gain or loss in 2026 was: Points out of 3.00 Flag question Select one: a. $20,000 loss b. $12,000 loss c. $10,000 gain d. $8,000 loss e. $2,000 gain Question 17 Not yet answered How would the amortization of discount on noncurrent bond investments affect each of the following? Points out of 3.00 Select one: a. Carrying Value of Bond Increase Net Income Decrease P Flag question b. Carrying Value of Bond Increase Net Income Increase c. Carrying Value of Bond Decrease Net Income Decrease d. Carrying Value of Bond Decrease Net Income Increase Carving Value of Bond No Effect Net income Increase