Question: Please explain how you get each number please! Tracy Company purchased as a long-term investment $400,000 of 5% bonds, dated July 1, on July 1,

Please explain how you get each number please!

Tracy Company purchased as a long-term investment $400,000 of 5% bonds, dated July 1, on July 1, 2021. Management has the positive intent and ability to hold the bonds until maturity. For bonds of similar risk and maturity the market yield was 6%. The price paid for the bonds was $370,245 on July 1, 2021. Interest is received semiannually on June 30 and December 31. Due to changing market conditions, the fair value of the bonds at December 31, 2021, was $385,000. At what amount will Tracy report its investment in the December 31, 2021 balance sheet

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