Question: Myriad Solutions, Inc., issued 12% bonds, dated January 1, with a face amount of $330 million on January 1, 2018, for $295,039,998. The bonds mature

Myriad Solutions, Inc., issued 12% bonds, dated January 1, with a face amount of $330 million on January 1, 2018, for $295,039,998. The bonds mature on December 31, 2027 (10 years). For bonds of similar risk and maturity the market yield is 14%. Interest is paid semiannually on June 30 and December 31. Required: Complete the table below to calculate the amounts related to the bonds that Myriad would report in its financial statements. Indicate the amounts reported on the financial statements below for the year ending December 31, 2018.

Complete the table below to calculate the amounts related to the bonds that Myriad would report in its financial statements. (Round your answers to the nearest whole dollar.)

Period-End Cash Interest Paid Bond Interest Expense Discount Amortization Carrying Value
01/01/2018
06/30/2018 $0 0
12/31/2018 0 0
Total $0 $0

Indicate the amounts reported on the financial statements below for the year ending December 31, 2018. (Any outflow of cash should be indicated by a minus sign. Round your answers to nearest whole dollar.)

Balance sheet:
Net liability
Income statement:
Interest expense
Statement of cash flows:
Operating
Investing
Financing

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