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 $94,000 of 6 percent, five-year bonds directly from Soul on January 1, 20X2, for $98,000. 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		$	26,000											$	40,600
Inventory			174,000												78,000
Buildings & Equipment			418,000												245,000
Investment in Soul Company Stock			125,424
Investment in Soul Company Bonds			95,600
Cost of Goods Sold			80,000												73,800
Depreciation Expense			18,000												13,000
Interest Expense			15,640												4,840
Dividends Declared			28,000												18,000
Accumulated Depreciation								$	136,000											$	76,000
Current Payables									112,200												52,640
Bonds Payable									194,000												94,000
Bond Premium																					1,600
Common Stock									110,000												70,000
Retained Earnings									227,000												40,000
Sales									154,000												139,000
Interest Income									4,840
Income from Soul Company Stock									42,624
Total		$	980,664					$	980,664					$	473,240					$	473,240

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.)