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5 Punk 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 of the book value of Soul Company. Punk also purchased $97,000 of 6 percent, five-year bonds directly from Soul on January 1, 20X2, for $101,000. The bonds pay interest annually on December 31. The trial balances of the companies as of December 31, 20X4, are as follows: 5 points Soul Company Debit Credit $ 53,680 79,00 250,00 eBook Punk Corporation Debit Credit $ 39,000 166,000 414,000 118,062 98,680 75, eee 17,080 15,820 27,880 $124,wee 121, 380 197,eee Print 68,888 12,080 5,20 17,000 Item Cash & Receivables Inventory Buildings & Equipment Investment in Soul Company Stock Investment in Soul Company Bonds Cost of Goods Sold Depreciation Expense Interest Expense Dividends Declared Accumulated Depreciation Current Payables Bonds Payable Bond Premium Common Stock Retained Earnings Sales Interest Income Income from Soul Company Stock Total o References $ 64,90 88,820 97,eee 1,600 64.ee 34,690 136,080 184, eee 223,eee 151,wee 5,20 45,162 $979,482 $970,482 $485,420 $485,420 Required: a. Prepare the journal entry or entries for 20X4 on Punk's books related to its investment in Soul Company stock. (If no entry Is required for a transaction/event, select "No journal entry required" In the first account field.) 5 required for a transaction/event, select "No journal entry required" In the first account field.) View transaction list 5 points Journal entry worksheet eBook Record the dividends from Soul. Print Note: Enter debits before credits. References Event General Journal Debit Credit 1 Record entry Clear entry View general journal 5 required for a transaction/event, select "No journal entry required" In the first account field.) View transaction list 5 points Journal entry worksheet