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Part $1$

NorwalkNorwalk

Co$.$ purchased a bond on

OctoberOctober

$44$

of the current year for

$ $38$ comma $000$$$38,000$

and classified it as$$ available$-$for$-$sale. The fair value of the investment at$$ year$-$end is

$ $35$ comma $000$$$35,000.$

What value will be reported in net income for the$$ adjustment, if$$ any?

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Part $1$

A$.$

$$$$0$

B$.$$ $35$ comma $000$

$ $35$ comma $000$$$35,000$

C$.$$$(3$ comma $000)$

$$(3$ comma $000)$$$(3,000)$

D$.$

Not enough information is given to determine the amount included in net income.