Pop Corporation purchased 80 percent of the outstanding voting common stock of Son Corporation on January 2, 2016, for $1,200,000 cash. Son's balance sheets on this date and on December 31, 2016, are as follows:
Son Corporation Balance Sheets

Additional Information
1. Pop uses the equity method of accounting for its investment in Son.
2. Son's 2016 net income and dividends were $280,000 and $240,000, respectively.
3. Son's inventory, which was sold in 2016, was undervalued by $50,000 at January 2, 2016.
Required
1. What is Pop's income from Son for 2016?
2. What is the non-controlling interest share for 2016?
3. What is the total non-controlling interest at December 31, 2016?
4. What will be the balance of Pop's Investment in Son account at December 31, 2016, if investment income from Son is $200,000? Ignore your answer to 1.
5. What is consolidated net income for Pop Corporation and Subsidiary if Pop's net income for 2016 is $720,800? (Assume investment income from Son is $200,000, and it is included in the $720,800.)

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January 2 December 31 Inventory Other current assets Plant assets-net 200,000 80,000 320,000 880,000 $1,200,000 1,280,000 200,000 240,000 600,000 440,000 $1,200,000 1,280,000 200,000 800,000 Total assets Liabilities Capital stock Retained earnings 600,000 400,000 Total equities