Pam Corporation purchased a block of Sun Company common stock for $1,040,000 cash on January 1, 2016.

Question:

Pam purchased a block of Sun Company for $1,040,000 cash on January 1, 2016. Separate-company and consolidated balance sheets prepared immediately after the acquisition are summarized as follows (in thousands):
Pam and Subsidiary Consolidated at January 1, 2016

Pam Corporation purchased a block of Sun Company common stock

Required:
Reconstruct the schedule to assign the fair value/book value differential from Pam's investment in Sun?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...