On January 2, 2016, Pop Corporation enters into a business combination with Son Corporation in which Son is dissolved. Pop pays $1,650,000 for Son, the consideration consisting of 66,000 shares of Pop $10 par common stock with a market value of $25 per share. In addition, Pop pays the following expenses in cash at the time of the merger:

Finder's fee ............................................. $ 70,000

Accounting and legal fees ............................. 130,000

Registration and issuance costs of securities ......... 80,000

............................................................... $280,000

Balance sheet and fair value information for the two companies on December 31, 2015, immediately before the merger, is as follows (in thousands):

Required:
Prepare a balance sheet for Pop Corporation as of January 2, 2016, immediately after the merger, assuming the merger is treated as an acquisition.

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Pop Book Value 300 Son Book ValueSon Fair Value Cash Accounts receivable-net Inventories Land Buildings-net Equipment-net Total assets 1,040 800 2,000 1,000 $5,600 600 1,200 1,600 1,200 1,000 $5,600 $ 60 100 160 200 400 600 $ 60 80 240 300 600 500 $1,780 $ 80 360 Accounts payable Note payable Capital stock, $10 par Other paid-in capital Retained earnings Total liabilities and owners' equity $ 80 400 600 100 340