2. Determill and liabilities equal the fall E2-4 Calculate Income for a midyear investment Pam Corporation pays $300,000 for a 30 percent interest in Sun Corporation on July 1, 2016, when the book value of Sun's identifiable net assets equals fair value. Information relating to Sun follows (in thousands): December 31, 2015 December 31, 2016 $ 300 $ 300 Capital stock, $1 par 200 250 Retained earnings $ 500 $ 550 Total stockholders equity $ 100 Sun's net income earned evenly throughout 2016 $ 50 Sun's dividends for 2016 (paid $25,000 on March 1 and $25,000 on September 1) from Sun for 2016