On July 1, 2010, Iris Company Purchased 800 Bonds Having

On July 1, 2010, Iris Company purchased 800 bonds having $1, 000 face value and an 8% interest rate.Interest is paid on June 30 and December 31.The purchase price was 97.The bonds are classified by Iris as available for sale.The market value of the bonds on December 31, 2010, was $789, 000.Ignoring amortization, the income statement for the year ended December 31, 2010, would report income (loss) related to this investment in the amount of

A) $13, 000 loss
B) $19, 000 income
C) $45, 000 income
D) $32, 000 income