E 11-4 Computations (parent-company and entity theories) Balance sheet information of Pop and Son Corporations at December 31, 2015, is summarized as follows in thousands): Pop Book Value Son Book Value Son Fair Value Current assets Plant assets-net $ 520 480 $1,000 $ 80 800 120 $1,000 Current liabilities Capital stock Retained earnings $ 50 250 $300 $ 40 200 60 $ 90 360 $450 $ 50 $300 On January 2, 2016, Pop purchases 80 percent of Son's outstanding shares for $500,000 cash. REQUIRED 1. Determine goodwill from the acquisition under (a) parent-company theory and (b) entity theory. 2. Determine noncontrolling interest at January 2, 2016, under (a) parent-company theory and (b) entity theory 3. Determine the amount of total assets that would appear on a consolidated balance sheet prepared at January 2, 2016, under (a) parent-company theory and (b) entity theory