Pop Corporation acquired a 70 percent interest in Son Corporation on January 1, 2016, for $2,800,000, when Son's stockholders' equity consisted of $2,000,000 capital stock and $1,200,000 retained earnings. On this date, the book value of Son's assets and liabilities was equal to the fair value, except for inventories that were undervalued by $80,000 and sold in 2016, and plant assets that were undervalued by $320,000 and had a remaining useful life of eight years from January 1. Son's net income and dividends for 2016 were $280,000 and $40,000, respectively.
Separate-company balance sheet information for Pop and Son Corporations at December 31, 2016, follows (in thousands):

Required
Prepare consolidated balance sheet work papers for Pop Corporation and Subsidiary at December 31, 2016?

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Pop $240 1,760 Son S 80 Accounts receivablecustomers Accounts receivable from Pop Dividends receivable Inventories Land Plant assets-net Investment in Son 2,000 1,280 2,800 1.400 $10,112 $4,200 $1,200 320 2.884 Accounts payable-suppliers Accounts payable to Son Dividends payable Long-term debt Capital stock Retained earnings 160 2,400 4,0002,000 2,312 1440 $10,112 $4,200