Tanner-UNF Corporation acquired as a long-term investment $270.0 million of 8.0% 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 $270.0 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 $250.0 million. Required: 1. How will Tanner-UNF's investment in the bonds on July 1, 2024 affect the financial statements? 2. How will Tanner-UNF's receipt of interest on December 31, 2024, affect the financial statements? 3. At what amount will Tanner-UNF report its investment in the December 31, 2024, balance sheet? 4. 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 $230.0 million. How will the sale of the bond investment affect Tanner-UNF's financial statements? Complete this question by entering your answers in the tabs below. Required Required Required Required 1 2 3 4 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. Assets Balance Sheet Liabilities Income Statement Stockholders' Equity Net Common Stock Retained Earnings Revenues & Gains Expenses & Losses Income Required 1 Required 2 Required 3 Required 4 How will Tanner-UNF's receipt of interest on December 31, 2024, affect the financial statements? Note: Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5). Amounts to be deducted should be indicated by a minus sign. Assets Balance Sheet Liabilities Stockholders' Equity Revenues & Gains Common Stock Retained Earnings Income Statement Expenses & Losses Net Income Required 1 Required 2 Required 3 Required 4 At what amount will Tanner-UNF report its investment in the December 31, 2024, balance sheet? Note: Enter your answers in millions, (i.e., 10,000,000 should be entered as 10). Investment million Required 1 Required 2 Required 3 Required 4 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 $230.0 million. How will the sale of the bond investment affect Tanner-UNF's financial sta Note: Enter your answers in millions, (i.e., 10,000,000 should be entered as 10). Amounts to be deducted should be indicated by a minus sign. Assets Balance Sheet Liabilities Income Statement Stockholders' Equity Revenues & Gains Expenses & Losses Net Income Common Stock Retained Earnings