29) Based on the information given above, what amount of interest expense will be eliminated in the preparation of the December 31, 20X9 consolidated financial statements?

A) $13,292

B) $18,988

C) $16,296

D) $9,483

30) Based on the information given above, what amount of interest income will be eliminated in the preparation of the December 31, 20X9 consolidated financial statements?

A) $8,184

B) $16,296

C) $12,704

D) $18,988

31) Based on the information given above, what amount of constructive gain or loss will be allocated to noncontrolling interest in 20X8 consolidated financial statements?

A) $20,277 loss

B) $2,223 loss

C) $20,277 gain

D) $4,819 gain

Answers are bolded. Please explain how to get these answers!!! Thank you!

Spice Company issued $200,000 of 10 percent first mortgage bonds on January 1, 20X4, at 105. The bonds mature in 10 years and pay interest semiannually on January 1 and July 1. Pumpkin Corporation purchased $140,000 of Spice's bonds from the original purchaser on December 31, 20X8, for $125,000. Pumpkin owns 75 percent of Spice's voting common stock. Spice's partial bond amortization schedule is as follows: Interest $ PMT Amort of Discount (Premium) Interest Expense PMT # 1 2 3 4 5 6 7 8 9 10 11 12 1/1/20X4 7/1/20X4 1/1/20X5 7/1/20X5 1/1/20X6 7/1/20X6 1/1/20X7 7/1/20X7 1/1/20X8 7/1/20X8 1/1/20X9 7/1/20X9 1/1/20XO 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 9,684.96 9,670.43 9,655.23 9,639.33 9,622.69 9,605.29 9,587.09 9,568.04 9,548.12 9,527.28 9,505.48 9,482.68 (315.04) (329.57) (344.77) (360.67) (377.31) (394.71) (412.91) (431.96) (451.88) (472.72) (494.52) (517.32) Premium (Discount) 10,000.00 9,684.96 9,355.38 9,010.61 8,649.94 8,272.63 7,877.92 7,465.01 7,033.05 6,581.18 6.108.46 5,613.94 5,096.62 Bonds Payable 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 CV of Bonds 210,000.00 209,684.96 209,355.38 209,010.61 208,649.94 208,272.63 207,877.92 207,465.01 207,033.05 206,581.18 206,108.46 205,613.94 205,096.62 Spice Company issued $200,000 of 10 percent first mortgage bonds on January 1, 20X4, at 105. The bonds mature in 10 years and pay interest semiannually on January 1 and July 1. Pumpkin Corporation purchased $140,000 of Spice's bonds from the original purchaser on December 31, 20X8, for $125,000. Pumpkin owns 75 percent of Spice's voting common stock. Spice's partial bond amortization schedule is as follows: Interest $ PMT Amort of Discount (Premium) Interest Expense PMT # 1 2 3 4 5 6 7 8 9 10 11 12 1/1/20X4 7/1/20X4 1/1/20X5 7/1/20X5 1/1/20X6 7/1/20X6 1/1/20X7 7/1/20X7 1/1/20X8 7/1/20X8 1/1/20X9 7/1/20X9 1/1/20XO 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 9,684.96 9,670.43 9,655.23 9,639.33 9,622.69 9,605.29 9,587.09 9,568.04 9,548.12 9,527.28 9,505.48 9,482.68 (315.04) (329.57) (344.77) (360.67) (377.31) (394.71) (412.91) (431.96) (451.88) (472.72) (494.52) (517.32) Premium (Discount) 10,000.00 9,684.96 9,355.38 9,010.61 8,649.94 8,272.63 7,877.92 7,465.01 7,033.05 6,581.18 6.108.46 5,613.94 5,096.62 Bonds Payable 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 CV of Bonds 210,000.00 209,684.96 209,355.38 209,010.61 208,649.94 208,272.63 207,877.92 207,465.01 207,033.05 206,581.18 206,108.46 205,613.94 205,096.62