A company purchased 6%, 7-year bonds on January 1, 2024, at face amount for $100,000. As of December 31, 2024, the fair value of the bonds has increased to $102,000. In early 2025, the company sells the investment for $101,000. Assuming the investment is classified as available-for-sale securities, what is the gain or loss on the sale to be reported in the income statement in 2025?
Multiple Choice
$1,000 loss
$1,000 gain
$2,000 loss
$2,000 gain