The balance sheets for Pablo Corporation and Dicgo Corporation at December 31, 2016 are summarized as follows (in thousands): Pablo Corporation Book Value Fair Value Diego Corporation Book Value Fair Value Assets Cash Receivables-net Inventories Land Buildings-net Equipment-net Total assets Equities Accounts payable Other liabilities Common stock. $10 par Other paid-in capital Retained earnings Total equities $100 50 130 50 150 10) $580 $100 50 150 100 200 150 $750 $40 30 80 30 70 SO $300 $40 30 100 50 100 75 $395 $80 90 $50 45 $ 80 10) 2001 100 10) SS80 S 50 75 100 25 50 $300) On January 1. 2017. Pablo Corporation acquired all of Diego Corporation's outstanding common stock for $250,000. Pablo paid $50,000 in cash and issued a five-year, 10 percent note for the balance. Diego was dissolved. REQUIRED 1. Prepare a scholule to show how the investment cost is allocated to identifiable assets and liabilities. 2. Prepare a balance sheet for Pablo Corporation on January 1, 2017, immediately after the acquisition