Punk Corporation purchased $90$ percent of Soul Company$$s voting common shares on January $1,20$X$2,$ at underlying book value. At that date, the fair value of the noncontrolling interest was equal to $10$ percent of the book value of Soul Company. Punk also purchased $$94,000$ of $6$ percent, five$-$year bonds directly from Soul on January $1,20$X$2,$ for $$98,000.$ The bonds pay interest annually on December $31.$ The trial balances of the companies as of December $31,20$X$4,$ are as follows:

Note: Assume using straight$-$line amortization of bond discount or premium.

PUNK Corporation. DEBIT: Cash & Accounts Receivable $$40,000$; Inventory $$172,000$; Buildings & Equipment $$414,000$; Investment in Soul Company Stock $$141,624$; Investment in Soul Company Bonds $$95,600.$ Cost of Goods Sold $$67,000$; Depreciation Expense $$20,000$; Interest Expense $$15,640.$ Dividends Declared $$30,000$; CREDIT: Accumulated Depreciation $$132,000$; Current Payables $$117,400$; Bonds Payable $$194,000$; Bond Premium $$0$; Common Stock $$115,000$; Retained Earnings $$228,000$; Sales $$153,000$; Interest Income $$4,840$; Income from Soul Company Stock $$51,624.$

Soul Company. DEBIT: Cash & Accounts Receivable $$54,600$; Inventory $$83,000$; Buildings & Equipment $$240,000$; Investment in Soul Company Stock $$0$; Investment in Soul Company Bonds $$0.$ Cost of Goods Sold $$60,800$; Depreciation Expense $$15,000$; Interest Expense $$4,840.$ Dividends Declared $$20,000$; CREDIT: Accumulated Depreciation $$72,000$; Current Payables $$52,640$; Bonds Payable $$94,000$; Bond Premium $$1,600$; Common Stock $$75,000$; Retained Earnings $$45,000$; Sales $$138,000$; Interest Income $$0$; Income from Soul Company Stock $$0.$

Required:

a$.$ Prepare the journal entry or entries for $20$X$4$ on Punk$$s books related to its investment in Soul Company stock.

b$.$ Prepare the journal entry or entries for $20$X$4$ on Punk$$s books related to its investment in Soul Company bonds.

c$.$ Prepare the journal entry or entries for $20$X$4$ on Soul$$s books related to its bonds payable.

d$.$ Prepare the consolidation entries needed to complete a consolidated worksheet for $20$X$4.$

e$.$ Prepare a three$-$part consolidated worksheet for $20$X$4.$