Pat Corporation acquired an 80 percent interest in Sci Corporation for $480,000 on January 1, 2011, when Sci's stockholders' equity consisted of $400,000 capital stock and $50,000 retained earnings. The excess fair value over book value acquired was assigned to plan assets that were undervalued by $100,000 and to goodwill. The undervalued plant assets has a four-year useful life. ADDITIONAL INFORMATION 1. Pat's account receivable includes $10,000 owed by Sci. 2. Sci mailed its check for $40,000 to Pat on December 30, 2012, in settlement of the advance. 3. A $20,000 dividend was declared by Sci on December 30, 2012, but was not recorded by Pat. 4. Financial statements for Pat and Sci Corporations for 2012 follow(in thousands)

Statements of Income and Retained Earnings for the Year Ended December 31	Pat	Sci
Sales	$1,800	$600
Income from Sci	76	-----
Cost of Sales	(1200)	(300)
Operating Expenses	(380)	(180)
Net Income	296	120
Add: Retained earnings, January 1	244	100
Less: Dividends	(200)	(40)
Retained earnings December 31	340	$180
Balance Sheet at December 31
Cash	$12	$30
Accounts receivable-net	52	40
Inventories	164	120
Advance to Sci	40	-------
Other current assets	160	10
Land	320	60
Plant assets-net	680	460
Investment in Sci	560	-----
Total assets	$1,988	$720
Accounts Payable	$48	30
Dividends Payable	-------	20
Other liabilities	200	90
Capital Stock	1,400	400
Retained earnings	340	180
Total liabilities and stockholders' equity	$1,988	$720

Required: Prepare consolidation workpapers for Par Corporation and Subsidiary for 2012