Farmer Corporation owned $65\%$ of the voting common stock of Suffield, Inc. The parent's interest was acquired several years ago on the date that the subsidiary was formed. Consequently, no goodwill or other allocation was recorded in connection with the acquisition price. On January $1,2017,$ Suffield sold $$1,500,000$ in ten$-$year bonds to the public at $110.$ The bonds pay a $10\%$ interest rate every December $31.$ Famer acquired $50\%$ of these bonds on January $1,2019,$ for $94\%$ of the face value. Both companies utilized the straight$-$line method of amortization. $1.$ What balances would need to be considered in order to prepare the consolidation entry in connection with these intra$-$entity bonds at December $31,2019,$ the end of the first year of the intra$-$entity investment? Prepare schedules to show numerical answers for balances that would be needed for the entry. $2.$ How much is the gain$/$loss from intra$-$entity bond transfer on $1/1/2019?3.$ What consolidation entry would be recorded in connection with these intra$-$entity bonds on December $31,2019?4.$ What consolidation entry would be recorded in connection with these intra$-$entity bonds on December $31,2020?5.$ Assume that during the year of $2019,$ Suffield has income of $400,000$ and Farmer has income of $900,000($with investment income included$),$ how much is the equity income in Suffield $?$