Income data from the records of Par Corporation and Sum Corporation, Par's 80 percent-owned subsidiary, for 2011 through 2014 follow (in thousands):

Par acquired its interest in Sum on January 1, 2011, at a price of $40,000 less than book value. The $40,000 was assigned to a reduction of plant assets with a remaining useful life of 10 years. On July 1, 2011, Sum sold land that cost $25,000 to Par for $30,000. This land was resold by Par for $35,000 in 2014.Par sold machinery to Sum for $100,000 on January 2, 2012. This machinery had a book value of $75,000 at the time of sale and is being depreciated by Sum at the rate of $20,000 per year. Par's December 31, 2013, inventory included $8,000 unrealized profit on merchandise acquired from Sum during 2013. This merchandise was sold by Par during 2014.REQUIRED: Prepare a schedule to calculate the consolidated net income of Par Corporation and Subsidiary for each of the years 2011, 2012, 2013, and2014.

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2013 2013 2014 2011 2012 Par's separate income Sum's net income $150 70 $40 $120 90 $200 80