Pop Corporation acquired 70 percent of the outstanding common stock of Son Corporation on

January 1, 2016, for $350,000 cash. Immediately after this acquisition the balance sheet

information for the two companies was as follows (in thousands):

	Pop Book Value	Book Value	Fair Value
Assets
cash	$70	$40	$40
Receivable-net	160	60	60
Inventories	140	60	100
Land	200	100	120
Buildings-net	220	140	180
Equipment-net	160	80	60
Investments in Son	350	--------	--------
Total assets	1300	480	560
Liabilities and Stockholders' Equity
Accounts payable	180	160	160
other liabilities	20	100	80
Capital stock, $20 par	1000	200
Retained earnings	100	20
Total equities	1300	480

Required
1. Prepare a schedule to assign the difference between the fair value of the investment in Son and the book
value of the interest to identifiable and unidentifiable net assets.
2. Prepare a consolidated balance sheet for Pop Corporation and Subsidiary at January 1, 2016.