Consolidated net income (upstream and downstream sales) Income data from the records of Pam Corporation and Sun Corporation, Pam's 80 percent- owned subsidiary, for 2016 through 2019 follow (in thousands) 2016 $200 60 2018 $40 80 2017 2019 $150 70 $120 90 Pam's separate inco Sun's net income Pam acquired its interest in Sun on January 1, 2016, at a price of $40,000 less than book value The $40,000 was assigned to a reduction of plant assets with a remaining useful life of 10 years On July 1, 2016, Sun sold land that cost $25,000 to Pam for $30,000. This land was resold by Pam for $35,000 in 2019 Pam sold machinery to Sun for $100,000 on January 2, 2017. This machinery had a book value of $75,000 at the time of sale and is being depreciated by Sun at the rate of $20,000 per year Pam's December 31, 2018, inventory included $8,000 unrealized profit on merchandise acquired from Sun during 2018. This merchandise was sold by Pam during 2019 REQUIRED: Prepare a schedule to calculate the consolidated net income of Pam Corporation and Subsidiary for each of the years 2016, 2017, 2018, and 2019