Son Corporation's stockholders' equity at December 31, 2015, consisted of the following (in thousands): Capital stock, $10

Question:

Son Corporation's stockholders' equity at December 31, 2015, consisted of the following (in thousands):
Capital stock, $10 par, 60,000 shares issued and outstanding ...................... $600
Additional paid-in capital ................................................................. 150
Retained earnings ........................................................................... 250
Total stockholders' equity .............................................................. $1,000
On January 1, 2016, Pop purchased 20,000 previously unissued shares of Son stock directly from Son for $500,000.
Required
1. Calculate Pop Corporation's percentage ownership in Son.
2. Determine the (if any) from Pop's investment in Son. Assume book values of all identifiable assets and liabilities equal the fair values?
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