Pas and Sal Corporations' balance sheets at December 31, 2010, are summarized as follows (in thousands):
Pas Sal
Cash ........................... $1,020 .......... $240
Other assets ...................... 800 ............ 700
Total assets ................... $1,820 ........... $940
Liabilities ...................... $ 280 ........... $140
Capital stock, par $10 ........ 1,200 ............ 700
Additional paid-in capital ...... 200 .............. 60
Retained earnings ............... 140 .............. 40
Total equities ................. $1,820 ........... $940
Pas acquired 80 percent of the voting stock of Sal on January 2, 2011, at a cost of $640,000. The fair values of Sal's net assets were equal to book values on January 2, 2011.
During 2011, Pas reported earnings of $220,000, including income from Sal of $64,000, and declared and paid dividends of $100,000. Sal's earnings for 2011 were $80,000 and its dividends were $60,000.
REQUIRED
Prepare the stockholders' equity section of the December 31, 2011, consolidated balance sheet for Pas Corporation and Subsidiary.