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What the amount reported in pharoah income statement was

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Problem 1: On November 1, 2021, Pharoah Company purchased Wildhorse, Inc., 10-year, 10%, bonds with a face value of $ 840000, for $ 760000. An additional $ 28000 was paid for the accrued interest. Interest is payable semiannually on January 1 and July 1. The bonds mature on July 1, 2028. Pharoah uses the straight-line method of amortization. Ignoring income taxes, the amount reported in Pharoah's 2021 income statement as a result of Pharoah's available-for-sale investment in Wildhorse was

Option 1: $ 16000.
Option 2: $ 14000.
Option 3: $ 15300.
Option 4: $ 12700.

Reference no: EM132986798

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