On January 1, 2017, Sun Corporation, which was in a tight working capital position, sold 12,000 shares of previously unissued stock to Pam Corporation for $250,000. All of Sun's identifiable assets and liabilities were recorded at fair values on this date except for a building with a 10-year remaining useful life that was undervalued by $60,000. During 2017 , Sun Corporation reported net income of $120,000 and paid dividends of $90,000. Required Prepare all journal entries necessary for Pam Corporation to account for its investment in Sun for 2017