Pin Corporation paid $4,500,000 for a 90 percent interest in San Corporation on January 1, 2016; Sans total book value was $4,500,000. The excess was allocated as follows: $150,000 to undervalued equipment with a three-year remaining useful life and $350,000 to goodwill. The income statements of Pin and San for 2016 are summarized as follows (in thousands):

Pin San

Sales $9,000 $5,200

Income from San 450

Cost of sales (5,000) (3,600)

Depreciation expense (1,000) (520)

Other expenses (1,450) (580)

Net income $2,000 500

Required:

1. Calculate the goodwill that should appear in the consolidated balance sheet of Pin and Subsidiary at December 31, 2016.
2. Calculate the following 3 items for 2016:

• Consolidated net income for 2016
• Controlling share of consolidated net income for 2016
• Noncontrolling share of consolidated net income for 2016