3. Rizan Corporation acquired an 80% interest in Soka Corporation at book value equal to fair value on January 1, 2013, at which time Soka's capital stock and retained earnings were $100.000 and $40.000, respectively. On January 1, 2014. Soka purchased $50.000 par of Rizan's 8%, $100.000 par bonds for $48.800 three years before maturity. Interest payment dates are January 1 and July1. During 2014. Soka reports interest income of $4.400 in connection with the bonds, and Rizan reports interest expense of $8.000. Additional information: a. Rizan's separate income for 2014 is $200.000. b. Soka's.Det income for 2014 is $50.000 c. Rizan account for its investment by the equity method d. Straight-line amortization is applicable. Required: 1. Determine the gain or loss on the bonds 2. Prepare the journal entries for Soka to account for its bond investment during 2014. 3. Prepare the journal entries for Rizan to account for its bond payable during 2014. 4. Prepare the journal entries for Rizan to account for its 80% investment in Soka for 2014. 5. Calculated noncontrolling interest share and consolidated net income for 2014