Fuzzy Monkey Technologies, Incorporated purchased as a long$-$term investment $$200$ million of $10\%$ bonds, dated January $1,$ on January $1,2024.$ Management has the positive intent and ability to hold the bonds until maturity. For bonds of similar risk and maturity the market yield was $12\%.$ The price paid for the bonds was $$178$ million. Interest is received semiannually on June $30$ and December $31.$ Due to changing market conditions, the fair value of the bonds at December $31,2024,$ was $$190$ million.

Required:

$1.$ to $3.$ Prepare the relevant journal entries on the respective dates $($record the interest at the effective rate$).$

$4.$ At what amount will Fuzzy Monkey report its investment in the December $31,2024$ balance sheet?

$5.$ How would Fuzzy Monkey's $2024$ statement of cash flows be affected by this investment? $($If more than one approach is possible, indicate the one that is most likely.$)$