$500 100 0 Capital stock $1.200 500 1.700 Total On January 1, 2016, Pop Corporation acquired an 80 percent interest in Son Corporation for $580,000. The excess fair value was due to Son's equipment being undervalued by $50,000 and unrecorded patents. The undervalued equi- ment had a five-year remaining useful life when Pop acquired its interest. Patents are amortized over 10 years. The income and dividends of Pop and Son are as follows (in thousands): Pop 2016 2017 $340 $350 240 250 2016 2017 $120 $150 90 Net income Dividends 80 REQUIRED: Assume that Pop Corporation uses the equity method of accounting for its investment in Son 1. Determine consolidated net income for Pop Corporation and Subsidiary for 2016. 2. Compute the balance of Pop's Investment in Son account at December 31, 2016. 3. Compute noncontrolling interest share for 2016. 4. Compute noncontrolling interest at December 31, 2017