P 4-2 Workpaper In Year of Acquisltion Theo AB's 80 percent ownership on January 1, 2014 for $10,000,000, when Thec AB's stockholders' equity consisted of $2,000,000 capital stock and $8,000,000 retained earnings. Theo AB's assets and liabilities book values were the same with the fair values during that period. The sepa- rate financial statements of LiamAB and Theo AB on December 31, 2014 are as follows (in thousands): P 4-2 Workpaper In Year of Acquisltion Theo AB's 80 percent ownership on January 1, 2014 for $10,000,000, when Thec AB's stockholders' equity consisted of $2,000,000 capital stock and $8,000,000 retained earnings. Theo AB's assets and liabilities book values were the same with the fair values during that period. The sepa- rate financial statements of LiamAB and Theo AB on December 31, 2014 are as follows (in thousands)