The following tables was taken from the 2009 annual report of RadioShack. Long-term debt (in millions)

(a) Briefly explain the transactions entered into by RadioShack during 2009. Which financial statements were affected?(b) Approximately how much interest expense was recognized in 2009 on the 2.5 percent notes?(c) Assume that RadioShack Paid $300 million to retire the 7.375 percent notes in 2009. How much gain or loss would RadioShack have recognized on the transaction? Where in the financial statements would it be found?

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2009 2008 Notes payable (interest 2.5%) Notes payable (interest 7.375%) S375.0 306.8 5.4 (59.4) S375.0 350.0 7.7 (73.2) Other Unamortized discount