Pam Corporation pays $10,800,000 for an 80 percent interest in Sun Corporation on January 1, 2016, at which time the book value and fair value of Sun's net assets are as follows (in thousands):
_____________________ Book Value ____________ Fair Value
Current assets ................. $ 4,000 ........................ $ 6,000
Equipment-net ...............8,000 ............................12,000
Other plant assets-net ...... 4,000 ............................ 4,000
Liabilities .................... (6,000) ......................... (6,000)
Net assets ................... $10,000 ........................ $16,000
Required:
Prepare a schedule to assign the fair value/book value differentials to Sun's net assets?