P3-12 Calculate separate company and consolidated statement items given investment account for three years A summary of changes in Pam Corporation’s Investment in Sun account from January 1, 2016, to December 31, 2018, follows (in thousands):

INVESTMENT IN SUN (80%)

January 1, 2016 6,080 Income—2016 512 Dividends—2016 256 2017 640 2017 320 2018 768 2018 384 to balance 7,040 8,000 8,000 December 31, 2018 Balance forward 7,040 ADDITIONAL INFORMATION 1. Pam acquired its 80 percent interest in Sun Corporation when Sun had capital stock of $4,800,000 and retained earnings of $2,400,000.
2. Dividends declared by Sun Corporation in each of the years 2016, 2017, and 2018 were equal to 50 percent of Sun Corporation’s reported net income.
3. Sun Corporation’s assets and liabilities were stated at fair values equal to book values on January 1, 2016.
REQuIRED 1. Sun Corporation’s dividends declared in 2017 2. Sun Corporation’s net income for 2017 3. Goodwill at December 31, 2017 4. Noncontrolling interest share for 2018 5. Noncontrolling interest at December 31, 2018 6. Consolidated net income for 2018, assuming that Pam’s separate income for 2018 is $2,240,000, without investment income from Sun