On January 1, Pop Corporation pays $400,000 cash and also issues 36,000 shares of $10 par common stock with a market value of $660,000 for all the outstanding common shares of Son Corporation. In addition, Pop pays $60,000 for registering and issuing the 36,000 shares and $140,000 for the other direct costs of the business combination, in which Son Corporation is dissolved. Summary balance sheet information for the companies immediately before the merger is as follows (in thousands):

Required:
Prepare all journal entries on Pop's books to account for the acquisition?

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Pop Book Value $ 700 Son Book Value $ 80 Son Fair Value S 80 Inventories Other current assets Plant assets-net Total assets Current liabilities Other liabilities Common stock, $10 par Retained earnings Total liabilities and owners' equity 520 $1,520 S 320 160 $ 60 S60