Can you explain those answers?

Granite 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. Mortar Corporation purchased $140,000 of Granite's bonds from the original purchaser on December 31, 20X8, for $125,000. Mortar owns 75 percent of Granite's voting common stock.

21) Based on the information given above, what amount of gain or loss on bond retirement will be reported in the 20X8 consolidated financial statements? Answer is C. $18,500 gain

22. Based on the information given above, what amount of premium on bonds payable will be eliminated in the preparation of the 20X9 consolidated financial statements? Answer is B. $2,800

23) Based on the information given above, what amount of interest income will be eliminated in the preparation of the 20X9 consolidated financial statements? Answer is A. $17,000

24) Based on the information given above, what amount of interest expense will be eliminated in the preparation of the 20X9 consolidated financial statements? Answer is B. $13,300 25) Based on the information given above, what amount of constructive gain will be allocated to noncontrolling interest in 20X8 consolidated financial statements? Answer is D. $4,625

Moon Corporation issued $300,000 par value 10-year bonds at 107 on January 1, 20X3, which Star Corporation purchased. On July 1, 20X7, Sun Corporation purchased $120,000 face value of Moon bonds from Star. The bonds pay 12 percent interest annually on December 31. The preparation of consolidated financial statements for Moon and Sun at December 31, 20X9, required the following consolidation entry:

Bonds Payable	120,000
Premium on Bonds Payable	2,520
Interest Income	14,760
Investment in Moon Corporation Bonds		118,920
Interest Expense		13,560
Investment in Moon Corporation Stock		3,120
NCI in NA of Moon Corp.		1,680

14. Based on the information given above, what percentage of the subsidiary's ownership does the parent company hold?

Answer is B. 65 percent

15. Based on the information given above, what amount did Sun pay when it purchased the bonds on July 1, 20X7? Answer is A. $118,020

16. Based on the information given above, what amount of gain or loss on bond retirement is included in the 20X7 consolidated income statement? Answer is A. $6,600

17. Based on the information given above, if 20X9 consolidated net income of $50,000 would have been reported without the consolidation entry provided, what amount will actually be reported? Answer is D. $48,800

Hunter Corporation holds 80 percent of the voting shares of Moss Company. On January 1, 20X8, Moss purchased $100,000 par value 12 percent first mortgage bonds of Hunter from Cruse for $115,000. Hunter originally issued the bonds to Cruse on January 1, 20X6, for $110,000. The bonds have an 8-year maturity from the date of issue. Moss' reported net income of $65,000 for 20X8, and Hunter reported income (excluding income from ownership of Moss's stock) of $90,000.

30. Based on the information given above, what amount of interest expense does Hunter record annually? Answer is A. $10,750

31. Based on the information given above, what amount of interest income does Moss record for 20X8? Answer is D. $9,500

32. Based on the information given above, what gain or loss on the retirement of bonds should be reported in the 20X8 consolidated income statement? Answer is C. $7,500 loss

33. Based on the information given above, what amount of consolidated net income should be reported for 20X8? Answer is D. $148,750