P3-10 Calculate investment cost and account balances from a consolidated balance sheet five years after acquisition The consolidated balance sheet of Pam Corporation and its 80 percent subsidiary, Sun Corporation, contains the following items on December 31, 2020 (in thousands):

Cash $ 160 Inventories 1,536 Other current assets 560 Plant assets—net 2,160 Goodwill 480

$4,896 Liabilities $ 960 Capital stock 3,200 Retained earnings 240 Noncontrolling interests 496

$4,896 Pam Corporation uses the equity method of accounting for its investment in Sun. Sun Corporation stock was acquired by Pam on January 1, 2016, when Sun’s capital stock was $1,600,000 and its retained earnings were $160,000. Fair values of Sun’s net assets were equal to book values on January 1, 2016, and there have been no changes in outstanding stock of either Pam or Sun since January 1, 2016.

REQuIRED 1. The purchase price of Pam’s investment in Sun stock on January 1, 2016.
2. The total of Sun’s stockholders’ equity on December 31, 2020.
3. The balance of Pam’s Investment in Sun account at December 31, 2020.
4. The balances of Pam’s Retained earnings and Capital stock accounts on December 31, 2020.