Answer : Gain $ 7600

Working notes for the above answer

Chang Industries has bonds outstanding with a par value of $222,400

Bond carrying value of $236,600.

The company calls these bonds at a price of $229,000,

The gain or loss on retirement is as follow

Carrying Value – cash paid to retire bonds = gain or loss on bond retirement

Particular
Amount in $

carrying value
236600

Less:

Calling at a price
229000

Gain
7600