1-1 Prepare balance sheet after acquisition Comparative balance sheets for Pop and Son Corporations at December 31, 2015, are as follows (in thousands): Pop Current assets Land Buildingsnet Equipmentnet Total assets Current liabilities Capital stock, $10 par Additional paid-in capital Retained earnings Total equities $2,080 800 4,800 3,520 $11,200 $ 800 8,000 800 1,600 $11,200 Son $ 960 1,600 1,600 3,840 $8,000 $ 960 3,200 2,240 1,600 $8,000 On January 2, 2016, Pop issues 240,000 shares of its stock with a market value of $40 per share for all the outstanding shares of Son Corporation in an acquisition. Son is dissolved. The recorded book values reflect fair values, except for the buildings of Pop, which have a fair value of $6,400,000, and the current assets of Son, which have a fair value of $1,600,000. Pop pays the following expenses in connection with the business combination: Costs of registering and issuing securities Other direct costs of combination $240,000 $400,000 reQUIreD: Prepare the balance sheet of Pop Corporation immediately after the acquisition.