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Newberry purchased XYZ bonds for $100,000 on 1/1/21 and classified them as available-for-sale. The year-end values of these bonds for years 2021-2023 respectively were $102,000, $99,000, and $93,000. Suppose Newberry erroneously accounted for these securities as if they were "Trading" since their purchase. Net Income for 2023 would be: a. $6,000 understated b. $7,000 overstated c. $9,000 understated d. $3,000 overstated e. $5,000 overstated
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