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Use the following information for #63-65: Moon Corporation issued $300,000 par value 10-year bonds at...

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Use the following information for #63-65: Moon Corporation issued $300,000 par value 10-year bonds at 107 on January 1, 2012, which Star Corpora- tion purchased. On July 1, 2016, Sun Corporation purchased $120,000 of Moon bonds from Star. The bonds pay 12% interest annually on December 31. The preparation of consolidated financial statements for Moon and Sun at December 31, 2018, required the following eliminating entry: Bonds Payable Premium on Bonds Payable Interest Income 120,000 2,520 14,760 Investment in Moon Bonds 118,920 13,560 3,120 1,680 Interest Expense Investment in Moon Stock NCI in NA of Moon 63. What percentage of the subsidiary's ownership does the parent company hold? a. 75% c. 80% d. 95% b. 65% 64. What amount did Sun pay when it purchased the bonds on July I, 2016? a. $118,020 c. $I18,620 d. $117,220 b. $118,920 65. What amount of gain/ loss on bond retirement is included in the 2016 consolidated income statement? c. $6,000 d. $5,400 b. $4,800 a. $6,600

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