Financial statements for Pop and Son Corporations for 2016 are as follows (in thousands):

ADDITIONAL INFORMATION
1. Pop acquired an 80 percent interest in Son on January 2, 2014, for $580,000, when Son's stockholders' equity consisted of $600,000 capital stock and no retained earnings. The excess of investment fair value over book value of the net assets acquired related 50 percent to undervalued inventories (subsequently sold in 2014) and 50 percent to a patent with a 10-year amortization period.
2. Son sold equipment to Pop for $50,000 on January 1, 2015, at which time the equipment had a book value of $20,000 and a five-year remaining useful life (included in plant assets in the financial statements).
3. During 2016, Son sold land to Pop at a profit of $20,000 (included in plant assets in the financial statements).
4. Pop uses the equity method to accounting for its investment in Son.
REQUIRED:
Prepare a consolidation workpaper for Pop Corporation and Subsidiary for the year ended December 31, 2016.

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Pop Combined Income and Retained Earnings Statement for the Year Ended December 31, 2016 Sales Income from Son Gain on sale of land Depreciation expense Other expenses $ 420 $ 260 63.8 (80) (220) (60) (120) Net income Add: Beginning retained earnings Deduct: Dividends 280.8 (60) Retained earnings December 31 Balance Sheet at December 31, 2016 Current assets Plant assets Accumulated depreciation Investment in Son $ 400 1,100 (240) $340 644.6 Total assets Current liabilities Retained earnings Total equities 300 1,200 $ 100 Capital stock 404.6