Pam Corporation paid $290,000 for 40 percent of the outstanding common stock of Sun Corporation on January 2, 2017. During 2017, Sun paid dividends of $48,000 and reported net income of $108,000. A summary of Sun's stockholders' equity at December 31, 2016 and 2017 follows (in thousands):

Required:
Calculate Pam Corporation's income from Sun for 2017 and its Investment in Sun account balance at December 31, 2017. Assume the book values of all of Sun's assets and liabilities equal fair values?

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2016 2017 December 31 8% cumulative preferred stock. S100 par Common stock, $10 par Premium on preferred stock Other paid-in capital Retained earnings $100 300 10 90 160 $660 $100 300 10 90 100 $600 Total stockholders' equity