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 $100,000 of 6 percent, five-year bonds directly from Soul on January 1, 20X2, for $104,000. The bonds pay interest annually on December 31. The trial balances of the companies as of December 31, 20X4, are as follows:

Item	Punk Corporation	Soul Company
Debit	Credit	Debit	Credit
Cash and Receivable	$ 22,000		$ 36,600
Inventory	165,000		75,000
Buildings and Equipment	400,000		240,000
Investment in Soul Company Stock	121,392
Investment in Soul Company Bonds	101,720
Cost of Goods Sold	86,000		79,800
Depreciation Expense	20,000		15,000
Interest Expense	16,000		5,202
Dividends Declared	30,000		20,000
Accumulated Depreciation		$ 140,000		$ 80,000
Current Payable		92,400		35,000
Bonds Payable		200,000		100,000
Bond Premium				1,720
Common Stock		120,000		80,000
Retained Earnings		242,012		49,882
Sales		140,000		125,000
Interest Income		5,202
Income from Soul Company Stock		22,498
Total	$ 962,112	$ 962,112	$ 471,602	$ 471,602

Required:

1. Prepare the journal entry or entries for 20X4 on Punks books related to its investment in Soul Common stock.
2. Prepare the journal entry or entries for 20X4 on Punks books related to its investment in Soul Company bonds.
3. Prepare the journal entry or entries for 20X4 on Souls books related to its bonds payable.
4. Prepare the consolidation entries needed to complete a consolidated worksheet for 20X4.