Tanner$-$UNF Corporation acquired as a long$-$term investment $$250\mathrm{.}0$ million of $4\mathrm{.}0\%$ bonds, dated July $1,$ on July $1,2024.$ Company

management has the positive intent and ability to hold the bonds until maturity. Tanner$-$UNF paid $$250\mathrm{.}0$ million for the bonds. The

company will receive interest semiannually on June $30$ and December $31.$ As a result of changing market conditions, the fair value of

the bonds at December $31,2024,$ was $$220\mathrm{.}0$ million.

Required:

How will Tanner$-$UNF's investment in the bonds on July $1,2024$ affect the financial statements?

How will Tanner$-$UNF's receipt of interest on December $31,2024,$ affect the financial statements?

At what amount will Tanner$-$UNF report its investment in the December $31,2024,$ balance sheet?

Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner$-$UNF to sell the investment on

January $2,2025,$ for $$200\mathrm{.}0$ million. How will the sale of the bond investment affect Tanner$-$UNF's financial statements?

Answer is not complete.

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How will Tanner$-$UNF's investment in the bonds on July $1,2024$ affect the financial statements?

Note: Enter your answers in millions $($i$.$e$.,5,000,000$ should be entered as $5).$ Amounts to be deducted should be indicated by a minus sign.