Complete the bond related consolidation entries. The information you need is in Additional Information item #3. Do not do the full consolidation.

On January 1, 20X5, Pond Corporation purchased 75 percent of Skate Company's stock at underlying book value. At that date, the fair value of the noncontrolling interest was equal to 25 percent of Skate's book value. The balance sheets for Pond and Skate at January 1, 20XS, and December 31, 20X8, and income statements for 20X8 were reported as follows Page 444 20X8 Balance Sheets Pond Corporation Skate Company Cash Accounts Receivable Interest & Other Receivables Inventory Land Buildings & Equipment Accumulated Depreciation Investment in Skate Company January1 S 57.600 130.000 40.000 100,000 50,000 400,000 (150,000) December 31 S 53,100 176,000 45.000 140,000 50,000 400,000 (185.000) January1 $10.000 60.000 S.000 50,000 22,000 240,000 (70,000) December 31 S 47.000 65,000 10,000 50,000 22,000 240,000 (94,000) 122.100 42.800 135,000 $927.500 S 60,000 40.000 300.000 139.050 42.400 134.000 $994,550 S 65,000 45,000 300,000 Stock Bonds Investment in Tin Co. Bonds Total Assets Accounts Payable Interest & Other Payables Bonds Payable Bond Discount Common Stock Additional Paid-In Capital Retained Earnings Total Liabilities &Equities $320,000 $ 16,500 7,000 100.000 (3.500) 30.000 20.000 150,000 $320,000 S340,000 S 11,000 12,000 100,000 (3,000) 30,000 20,000 170,000 S340,000 150.000 155.000 222.500 $927.500 150,000 155,000 279.550 $994,550 20X8 Income Statements Pond Corporation Skate Company $450,000 24.450 18.500 $492,950 Sales Income from Skate Co Interest Income Total Revenue Cost of Goods Sold Other Operating Expenses Depreciation Expense Interest Expense Miscellaneous Net Income $250,000 $250,000 S285.000 50,000 35,000 24.000 11,900 $136,000 40,000 24,000 10.500 9,500 405,900 220,000 S S7,050 $ 30,000 Additional Information I. Pond sold a building to Skate for $65,000 on December 31, 20X7. Pond had purchased the building for $125,000 and was depreciating it on a straight-line basis over 25 years. At the time of sale, Pond reported accumulated depreciation of $75,000 and a remaining life of 10 years. Assume Pond uses the fully adjusted equity method 2. On July 1, 20X6, Skate sold land that it had purchased for $22.000 to Pond for $35,000. Pond is planning to build a new warehouse on the property prior to the end of 20x9 Skate issued $100,000, par value 10-year bonds with a coupon rate of 10 percent on January 1, 20X5, at $95,000. On December 31,20X7, Pond purchased $40.000 par value of Skate's bonds for $42.800. Both companies amortize bond premiums and discounts on a straight-line basis. Interest payments are made on July 1 and January 4. Pond and Skate paid dividends of S30,000 and $10,000, respectively, in 20XS