Pea Corporation acquired $80$ percent of Split Brewing Company's stock on January $1,20\backslash$times $1,$ at underlying book value. At that date, the fair value of the noncontrolling interest was equal to $20$ percent of Split's book value. On January $1,20$X$1,$ Split issued $$300,000$ par value, $8$ percent, $10-$year bonds to Malt Company for $$360,000.$ Pea subsequently purchased $$100,000$ of the bonds from Malt for $$102,000$ on January $1,20$X$3.$ Interest is paid semiannually on January $1$ and July $1.$

Summarized balance sheets for Pea and Split as of December $31,20$X$4,$ follow:

$\backslash$table$[[,\backslash$table$[[$PEA CORPORATION$],[$Balance Sheet$],[$December $31,204$