Januay 1, 206. fof four years to Son for $40,000. Soll this equipment Combined i for the Yea workpaper for Pop and Subsidia EQUIRED: Prepare a 2016 Sales P6-4 Workpaper (downstream sales, two years) on January 1, 2016, for $2,700 pectivel Income fro Gain on s Depreciat Other exp Pan Corporation acquired a 90 percent intesms were $1.500,000 and $900,000, respectiv a 90 percent interest in Sun Corporation on January 1, 20 at which time Sun's capital stock and retained earn fair value cost/book value differential is due to a pat tent with a 10-year amortization period. Net in Add: Be Deduct statements for Pam and Sun for 2017 are as follows (in thousands): Pam Sun Retai Balanc Current Plant a Accum Invest Combined Income and Retained Earnings Statement for the Year Ended Decemher 31, 2017 4,500 346 50 (2,000) (1,130) $ 1,900 Sales Income from Sun Gain on land Cost of sales (1.000) (400) Operating expenses Tot Net income Add: Retained earnings January Less: Dividends Curre Capit Retai 2,000 1,500 S 2.266 Retained earnings, December 31 1,200 (200) S 1,500 To Januay 1, 206. fof four years to Son for $40,000. Soll this equipment Combined i for the Yea workpaper for Pop and Subsidia EQUIRED: Prepare a 2016 Sales P6-4 Workpaper (downstream sales, two years) on January 1, 2016, for $2,700 pectivel Income fro Gain on s Depreciat Other exp Pan Corporation acquired a 90 percent intesms were $1.500,000 and $900,000, respectiv a 90 percent interest in Sun Corporation on January 1, 20 at which time Sun's capital stock and retained earn fair value cost/book value differential is due to a pat tent with a 10-year amortization period. Net in Add: Be Deduct statements for Pam and Sun for 2017 are as follows (in thousands): Pam Sun Retai Balanc Current Plant a Accum Invest Combined Income and Retained Earnings Statement for the Year Ended Decemher 31, 2017 4,500 346 50 (2,000) (1,130) $ 1,900 Sales Income from Sun Gain on land Cost of sales (1.000) (400) Operating expenses Tot Net income Add: Retained earnings January Less: Dividends Curre Capit Retai 2,000 1,500 S 2.266 Retained earnings, December 31 1,200 (200) S 1,500 To