A summary of changes in the stockholders' equity of Sin Corporation from January 1, 2011, to December 31, 2012, appears as follows (in thousands):

Par Corporation purchases 40,000 shares of Sin's outstanding stock on July 1, 2011, in the open market for $620,000 and an additional 10,000 shares directly from Sin for $162,000 on January 1, 2012. Any excess of investment fair value over book value is due to goodwill.REQUIRED1. Determine the balance of Par's Investment in Sin account on December 31, 2011.2. Compute Par's investment income from Sin for 2012.3. Determine the balance of Par's Investment in Sin account on December 31,2012.

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Capital Stock $10 Par Additional Paid-in Retained Total Equity Capital Earnings Balance January 1. 2011 Dividends. December 2011 Income, 2011 Balance December 31, 2011 Sale of stock January 1, 2012 Dividends, December 2012 Income, 2012 Balance December 31, 2012 $ 50 $550 (50) 100 $600 162 (60) 150 $852 $500 (50) 100 S100 $500 100 $ 62 (60) 150 $ 62 $600 $190