Pop Corporation acquired an 80 percent interest in Son Corporation on January 1, 2016, for $640,000, at which time Son had capital stock of $400,000 outstanding and retained earnings of $200,000. The price paid reflected a $200,000 undervaluation of Son's plant and equipment. The plant and equipment had a remaining useful life of eight years when Pop acquired its interest. Separate and consolidated financial statements for Pop and its subsidiary, Son Corporation, for the year ended December 31, 2018, are as follows (in thousands):

Son sells merchandise to Pop but never purchases inventory from Pop. On January 1, 2018, Son purchased $200,000 par of 10 percent Pop Corporation bonds for $212,000. These bonds mature on December 31, 2020, and Son expects to hold the bonds until maturity. Both Son and Pop use straight-line amortization. Interest is payable on December 31.
REQUIRED:
Show computations for each of the following items:
1. The $6,000 loss in the consolidated income statement
2. The $460,000 consolidated sales
3. Consolidated cost of goods sold of $220,000
4. Intercompany profit in beginning inventories
5. Intercompany profit in ending inventories
6. Consolidated accounts receivable of $330,000
7. Noncontrolling interest share of $16,000 (Hint: The amount $16,000 may be incorrect.)
8. Noncontrolling interest at December 31, 2018
9. Investment in Son stock at December 31, 2017
10. Investment income account of $40,000 (Pop's books)
Workpapers (constructive retirement of bonds, intercompany sales)

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0 Son Consolidated Combined Income and Retained Earnings Statement for the Year Ended December 31, 2018 Sales Income from Son Interest income Cost of goods sold Operating expenses Interest expense Loss Noncontrolling interest share Controlling share of net income Add: Beginning retained earnings Deduct: Dividends 360 $200 $460 40 (220) (60) (36) (120) (36) (220) (116) (18) (16) 84 588 60 270 40)30) 588 40) Ending retained earnings $ 632 $300 S 632 Balance Sheet at December 31, 2018 Cash Accounts receivable Inventories Plant and equipment Accumulated depreciation Investment in Son stock Investment in Pop bonds $ 120 240 200 1,000 (200) 640 S52 120 100 400 (100) $ 172 330 280 1,560 (360) 208 $780 S 80 Total assets Accounts payable 10% bonds payable Common stock Retained earnings Noncontrolling interest $2,000 $ 160 408 800 632 $1,982 $ 210 204 800 632 136 $1,982 400 300 Total equities $2,000 $780