On December $31,2013,$ Parminter Corporation owned an $80\%$ interest in the common stock of Sanchez Corporation and an $80\%$ interest in Sanchez's preferred stock. On December $31,2013,$ Sanchez's stockholders' equity was as follows:

$10\%$ preferred stock, cumulative, $$10$ par value $$50,000$

$\backslash$table$[[$Common stock,$350,000],[$Retained earnings,$100,000],[$Total stockholders' equity,$$500,000$