Question: P 4 - 1 Calculations five years after acquisition Pam Corporation purchased 7 5 percent of the outstanding voting stock of Sun Corporation for 1

P4-1 Calculations five years after acquisition
Pam Corporation purchased 75 percent of the outstanding voting stock of Sun Corporation for 14,800,000 on January 1,2016. Sun's stockholders' equity on this date consisted of the following (in thousands):
The excess fair value of the net assets acquired was assigned 10 percent to undervalued inventory (sold in 2016),40 percent to undervalued plant assets with a remaining useful life of eight years, and 50 percent to goodwill.
Comparative trial balances of Pam Corporation and Sun at December 31,2020, are as follows (in thousands):
\table[[,Pam,Sun],[Capital stock, $10 par,$6,000,$2,000
 P4-1 Calculations five years after acquisition Pam Corporation purchased 75 percent

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