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Police Corporation purchased 70 percent of Station Company'u voting shares on January 20X4, at underlying book value on that date it also purchased $111.000 par

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Police Corporation purchased 70 percent of Station Company'u voting shares on January 20X4, at underlying book value on that date it also purchased $111.000 par value 12 percent Station bonds, which had been issued on January 1 20X1. with a 10-year manurity During preparation of the consolidated financial statements for December 31, 20X4, the following consolidation entry was made in the worksheet Crealt Consolidation Worksheet Entries Bonds Payable Hond Premium Loss on Bond Retirement Interest Income Investment in Station Company Bloods Interest Expense Debit 111.000 7,200 2,500 121,200 Required: What price did Police pay to purchase the Station bonds? Purchase price b. What was the carrying amount of the bonds on Station's books on the date of purchase! Carrying moont b. What was the carrying amount of the bonds on Station's books on the date of purchase? Carrying amount c. If Station reports net income of $39,000 in 20x5, what amount of income should be assigned to the noncontrolling interest in the 20X5 consolidated Income statement? Income assigned to noncontrolling interest

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