1) On January 2, 2021, Paro Corporation acquired 70 percent interest in Saro Corporation for $2,800,000. Paro's capital stock and retained earnings were $7,200,000 and $3,200,000 respectively, while Saro's capital stock and retained earnings were $2,000,000 and $400,000 respectively. Net income and dividends for 2021 for the affiliated companies were as follows: (in thousands): Required: Calculate the amounts that should appear in the consolidated balance sheet on December 31, 2021 for the following items (Provide explanation as needed)