Verifying my work.

On July 1, 2019, Montana Company has bonds with balances as shown below. Bonds Payable 12.000 Discount on Bonds Payable 3700 If the company retires the bonds for $74, 150, what will be the effect on the income statement? O A gain on retirement of $5.850 O B. sales revenue of $88,300 C. loss on retirement of $5.850 OD. no effect on net income Estimated Warranty Payable is included in the liability section of the balance sheet. True False O The future value is the bond's market price. True False O The statement of stockholders' equity has more information than the statement of retained earnings because it reports the changes in all stockholders' equity accounts. - O True False Contingencies that are reasonably possible have a greater chance of occurring but are not likely True False O