Sun Corporation became a subsidiary of Pam Corporation on July 1 , 2 0 1 6 , when Pam paid $ 1 , 9 8 0 , 0 0 0 cash for 9 0 percent of Sun s outstanding common stock The price paid by Pam reflected the fact that Sun s inventories were undervalued by $ 5 0 , 0 0 0 , and Sun s plant assets were overvalued by $ 5 0 0 , 0 0 0 Sun sold the undervalued inventory items during 2 0 1 6 but continues to hold the overvalued plant assets that had a remaining useful life of nine years from July 1 , 2 0 1 6 During the years 2 0 1 6 through 2 0 1 8 , Sun s paid in capital consisted of $ 1 , 5 0 0 , 0 0 0 capital stock and $ 5 0 0 , 0 0 0 additional paid in capital Sun s retained earnings statements for 2 0 1 6 , 2 0 1 7 , and 2 0 1 8 were as follows ( in thousands )

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Sun Corporation became a subsidiary of Pam Corporation on July 1 , 2 0 1 6 , when Pam paid $ 1 , 9 8 0 , 0 0 0 cash for 9 0 percent of Sun s outstanding common stock  The price paid by Pam reflected the fact that Sun s inventories were undervalued by $ 5 0 , 0 0 0 , and Sun s plant assets were overvalued by $ 5 0 0 , 0 0 0   Sun sold the undervalued inventory items during 2 0 1 6 but continues to hold the overvalued plant assets that had a remaining useful life of nine years from July 1 , 2 0 1 6   During the years 2 0 1 6 through 2 0 1 8 , Sun s paid   in capital consisted of $ 1 , 5 0 0 , 0 0 0 capital stock and $ 5 0 0 , 0 0 0 additional paid   in capital  Sun s retained earnings statements for 2 0 1 6 , 2 0 1 7 , and 2 0 1 8 were as follows ( in thousands )

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Sun Corporation became a subsidiary of Pam Corporation on July 1 , 2 0 1 6 , when Pam paid $ 1 , 9 8

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