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Exercise 6 (LO 2) only please. Please show calculations and/or working notes, not just giving an answer for a thumbs up.

Exercise 5402) Bond eliminations, partial purchase. Carlton Company is an 80%- owned subsidiary of Mirage Company. On January 1, 2011, Carlton sold $100,000 of 10-year, 7% bonds for $101,000. Interest is paid annually on January 1. The market rate for this type of bond was 9% on January 2, 2013, when Mirage purchased 60% of the Carlton bonds for $53,600. Discounts may be amortized on a straight-line basis. 1. Prepare the eliminations and adjustments required for this bond purchase on the December 31, 2013, consolidated worksheet. 2. Prepare the eliminations and adjustments required on the December 31, 2014, consolidated worksheet. Exercise 6 (LO 2) Bond calculations, effective interest. Linco Industries is a 90%- owned subsidiary of Sharp Incorporated. On January 1, 2015, Linco issued $100,000 of 10- year, 6% bonds for $86,580, to yield 8% interest. Interest is paid annually on January 1 . The effective interest method is used to amortize the premium. Sharp purchased the bonds for $84,901 on January 2, 2018, when the market rate of interest was 9%. On the purchase date, the remaining discount on the bonds was $10,413. Linco's 2018 net income was $500,000. 1. Prepare the eliminations and adjustments required for this purchase on the December 31, 2018, consolidated worksheet. Amortization schedules will be needed to January 1, 2019. 2. Prepare the 2018 income distribution schedule for the NCI Exercise 7 (LO 4) Operating lease, entries, and eliminations. Grande Machinery ompany purchased, for cash, a $60,000 custom machine on January 1, 2011. The machine has an estimated 5-year life and will be straight-line depreciated with no salvage value. The machine was then leased to Sunshine Engineering Company, an 80%-owned subsidiary, under a 5-year operating lease for $15,000 per year, payable each January 1. Record the 201l entries for the purchase of the machine and the lease to Sunshine Enginer- l entries for the purchase of the machine and the lease to Sunshine Engineer

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