A parent purchases a subsidiarys bonds directly from it. The parent later sells the bonds to a

Question:

A parent purchases a subsidiary’s bonds directly from it. The parent later sells the bonds to a nonaffiliate. From a consolidated viewpoint, what occurs when the parent sells the bonds? Is a gain or loss reported in the when the parent sells the bonds? Why?

Consolidated Income Statement
When talking about the group financial statements the consolidated financial statements include Consolidated Income Statement that a parent must prepare among other sets of consolidated financial statements. Consolidated Income statement that is...