Punk Corporation purchased 90 percent of Soul Companys 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 $89,000 of 6 percent, five-year bonds directly from Soul on January 1, 20X2, for $93,000. The bonds pay interest annually on December 31. The trial balances of the companies as of December 31, 20X4, are as follows:

	Punk Corporation												Soul Company
Item	Debit						Credit						Debit						Credit
Cash & Receivables		$	28,000											$	42,600
Inventory			166,000												81,000
Buildings & Equipment			413,000												255,000
Investment in Soul Company Stock			138,294
Investment in Soul Company Bonds			90,600
Cost of Goods Sold			78,000												71,800
Depreciation Expense			18,000												13,000
Interest Expense			15,340												4,540
Dividends Declared			28,000												18,000
Accumulated Depreciation								$	131,000											$	71,000
Current Payables									112,400												63,340
Bonds Payable									189,000												89,000
Bond Premium																					1,600
Common Stock									119,000												79,000
Retained Earnings									232,000												49,000
Sales									148,000												133,000
Interest Income									4,540
Income from Soul Company Stock									39,294
Total		$	975,234					$	975,234					$	485,940					$	485,940

Required: a. Prepare the journal entry or entries for 20X4 on Punks books related to its investment in Soul Company stock.

b. Prepare the journal entry or entries for 20X4 on Punks books related to its investment in Soul Company bonds.

c. Prepare the journal entry or entries for 20X4 on Souls books related to its bonds payable.

d. Prepare the consolidation entries needed to complete a consolidated worksheet for 20X4.

e. Prepare a three-part consolidated worksheet for 20X4.