Comparative balance sheets for Pin and San Corporations at December 31, 2010, are as follows (in thousands): Pin San Current assets $1,040 $ 480 Land 400 800 Buildingsnet 2,400 800 Equipmentnet 1,760 1,920 Total assets $5,600 $4,000 Current liabilities $ 400 $ 480 Capital stock, $10 par 4,000 1,600 Additional paid-in capital 400 1,120 Retained earnings 800 800 Total equities $5,600 $4,000 On January 2, 2011, Pin issues 120,000 shares of its stock with a market value of $40 per share for all the outstanding shares of San Corporation in an acquisition. San is dissolved. The recorded book values reflect fair values, except for the buildings of Pin, which have a fair value of $3,200,000, and the current assets of San, which have a fair value of $800,000. Pin pays the following expenses in connection with the business combination: Costs of registering and issuing securities $120,000 Other direct costs of combination 200,000 Required: Prepare the balance sheet of Pin Corporation immediately after the acquisition..