Assume that a Parent company acquires an 80% interest in its Subsidiary on January 1, 2020. On January 1, 2020, the book value of net assets and the fair value of the identifiable net assets equaled the book value of identifiable net assets (i.e. there was no AAP or Goodwill). The parent uses the equity method to account for its investment in the subsidiary.

On December 31, 2021, the Subsidiary company issued $1,000,000 (face) 6 percent, five-year bonds to an unaffiliated company for $1,085,379. The bonds pay interest annually on December 31, and the bond premium is amortized using the straight-line method. This results in annual bond-payable premium amortization equal to $17,076 per year.

On December 31, 2023, the Parent paid $974,229 to purchase all of the outstanding Subsidiary company bonds. The bond discount is amortized using the straight-line method, which results in annual bond-investment discount amortization equal to $8,590 per year.

The Parent and the Subsidiary report the following financial statements for the year ended December 31, 2024:

Income Statement
	Parent	Subsidiary
Sales	$1,100,000	$800,000
Cost of goods sold	-440,000	-450,000
Gross Profit	660,000	350,000
Income (loss) from subsidiary	119,995
Bond interest income	68,590
Bond interest expense		-42,924
Operating expenses	-230,000	-125,000
Net income	$618,585	$182,076

Statement of Retained Earnings
	Parent	Subsidiary
BOY Retained Earnings	$4,000,000	$450,000
Net income	618,585	182,076
Dividends	-200,000	-25,000
EOY Retained Earnings	$4,418,585	$607,076

Balance Sheet
	Parent	Subsidiary
Assets:
Cash	$1,750,000	$800,000
Accounts receivable	800,000	750,000
Inventory	1,200,000	250,000
Equity Investment	2,095,393
Investment in subsidiary	982,819
PPE, net	14,046,480	4,677,227
	$20,874,692	$6,477,227
Liabilities and Stockholders Equity:
Accounts payable	$1,600,000	$838,000
Current Liabilities	2,200,000	1,100,000
Bonds payable		1,034,152
Long-term Liabilities	2,226,100	950,000
Common Stock	1,162,000	398,000
APIC	9,268,007	1,550,000
Retained Earnings	4,418,585	607,076
	$20,874,692	$6,477,227

Required

Provide the consolidation entries worksheet for the year ended December 31, 2024.

	Account	Debit	Credit
[C]	Income (loss) from subsidiary	Answer	Answer
	AnswerDividendsIncome attributable to noncontrolling interestInterest expenseInterest incomeNoncontrolling interestsRetained earnings	Answer	Answer
	AnswerDividendsIncome attributable to noncontrolling interestInterest expenseInterest incomeNoncontrolling interestsRetained earnings	Answer	Answer
	Equity investment	Answer	Answer
	Noncontrolling interest	Answer	Answer
[E]	Common stock	Answer	Answer
	APIC	Answer	Answer
	AnswerDividendsIncome attributable to noncontrolling interestInterest expenseInterest incomeNoncontrolling interestsRetained earnings	Answer	Answer
	Equity investment	Answer	Answer
	AnswerDividendsIncome attributable to noncontrolling interestInterest expenseInterest incomeNoncontrolling interestsRetained earnings	Answer	Answer
[Ibond]	Bond payable (net)	Answer	Answer
	AnswerDividendsIncome attributable to noncontrolling interestInterest expenseInterest incomeNoncontrolling interestsRetained earnings	Answer	Answer
	Equity investment	Answer	Answer
	Investment in bonds (net)	Answer	Answer
	AnswerDividendsIncome attributable to noncontrolling interestInterest expenseInterest incomeNoncontrolling interestsRetained earnings	Answer	Answer

If it says "Answer" in the box that is the question/missing data. If it says Answer with a bunch of words after it those are the choices from the drop down menu. (For example the journal entries some of the descriptions are missing along with the debit/credit amount)