P 3-6 Consolidated balance sheet workpapers with goodwill and dividends Per Corporation paid $1,800,000 cash for 90 percent of Sim Corporations common stock on January 1, 2011, when Sim had $1,200,000 capital stock and $400,000 retained earnings. The book values of Sim's assets and liabilities were equal to fair values. During 2011, Sim reported net income of $80,000 and declared $40,000 in dividends on December 31. Balance sheets for Per and Sim at December 31, 2011, are as follows (in thousands): Per Sim $ Assets Cash Receivables-net Inventories Land Equipmentnet Investment in Sim $ 168 200 1,400 600 2,400 1,836 $6,604 80 520 200 800 400 $2,000 Per Sim Equities Accounts payable Dividends payable Capital stock Retained earnings $1,640 240 4,000 724 $6,604 $ 320 40 1,200 440 $2,000 REQUIRED: Prepare consolidated balance sheet workpapers for Per Corporation and Subsidiary for December 31, 2011