d. Prepare the consolidation entries needed to complete a consolidated worksheet for 20X4. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) x Answer is complete but not entirely correct. No Event Accounts Debit Credit A 1 Common stock 62,000 Retained earnings 32,000 Income from Soul Company stock 44,802 NCI in NI of Soul Company O X Dividends declared 19,000 Investment in Soul Company stock 112,302 NCI in NA of Soul Company O X B 2 Bonds payable 87,000 Bond premium 1,600 Interest income 4,420 Investment in Soul Company bonds V 88,600 Interest expense 4,420Punk Corporation purchased 90 percent of Soul Company's voting common shares on January 1, 20x2, at underlying book value. At that date, the fair value of the noncontrolling interest was equal to 10 percent ofthe book value of Soul Company. Punk also purchased $87,000 of 6 percent, veyear bonds directly from Soul on January 1, 20x2, for $91,000, The bonds pay interest annually on December 31, The trial balances of the companies as of December 31, 20x4, are as follows: Punk Corporation Soul Company Item Debit Credit Debit Credit Cash 8 Receivables $ 34,833 $ 48,688 Inventory 183,833 26,388 Buildings 8 Equipment 418,833 258,388 Investment in Soul Company Stock 112,332 Investment in Soul Company Bonds 88,633 Cost of Goods Sold 79,833 22,888 Depreciation Expense 19,833 14,388 Interest Expense 15,223 4,428 Dividends Declared 29,833 19,388 Accumulated Depreciation $128,838 $ 68,383 Current Payables 125,938 131,223 Bonds Payable 187,838 87,383 Bond Premium 1,683 Conmon Stock 182,838 62,383 Retained Earnings 222,838 32,383 Sales 156,838 141,383 Interest Income 4,428 Income from Soul Company Stock 44,832 Total $978,122 $973,122 $492,828 $492,823