Pam Corporation purchased 75 percent of the outstanding voting stock of Sun Corporation for $4,800,000  on January 1, 2016. Sun’s stockholders’ equity on this date consisted of the following (in thousands): Capital stock, $10 par $2,000 Additional paid-in capital 1,200 Retained earnings December 31, 2015 1,600 Total stockholders’ equity $4,800 The excess fair value of the net assets acquired was assigned 10 percent to undervalued inventory (sold in 2016), 40 percent to undervalued plant assets with a remaining useful life of eight years,  and 50 percent to goodwill. Comparative trial balances of Pam Corporation and Sun at December 31, 2020, are as follows  (in thousands): Pam Sun Other assets—net $7,530 $5,200 Investment in Sun—75% 4,680 — Expenses (including cost of sales) 6,370 1,200 Dividends 1,000 400 $19,580 $6,800.

. Consolidated net income for 2019 (10 Marks) 6. Non-controlling interest at December 31, 2018 (5 Marks) 7. Non-controlling interest at December 31, 2019 (5 Marks)