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 $86,000 of 6 percent, five-year bonds directly from Soul on January 1, 20X2, for $90,000. 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		$	39,000											$	53,600
Inventory			184,000												77,000
Buildings & Equipment			403,000												252,000
Investment in Soul Company Stock			98,856
Investment in Soul Company Bonds			87,600
Cost of Goods Sold			82,000												75,800
Depreciation Expense			20,000												15,000
Interest Expense			15,160												4,360
Dividends Declared			30,000												20,000
Accumulated Depreciation								$	125,000											$	65,000
Current Payables									128,600												120,160
Bonds Payable									186,000												86,000
Bond Premium																					1,600
Common Stock									104,000												64,000
Retained Earnings									241,000												34,000
Sales									142,000												127,000
Interest Income									4,360
Income from Soul Company Stock									28,656
Total		$	959,616					$	959,616					$	497,760					$	497,760

Required: a. Prepare the journal entry or entries for 20X4 on Punks books related to its investment in Soul Company stock. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b. Prepare the journal entry or entries for 20X4 on Punks books related to its investment in Soul Company bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

c. Prepare the journal entry or entries for 20X4 on Souls books related to its bonds payable. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

d. Prepare the consolidation entries needed to complete a consolidated worksheet for 20X4. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

e. Prepare a three-part consolidated worksheet for 20X4. (Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.)