The balance sheets of Pub Corporation and Sun Corporation at December 31, 2010, are summarized with fair value information as follows (in thousands): pub corp sun corp book value fair value book value fair value assets cash $115 $115 $10 $10 Receivables - net 40 40 20 20 inventories 120 150 50 30 land 45 100 30 100 buildings - net 200 300 100 150 equipment - net 180 245 90 150 total assets 700 950 300 460 equities accounts payable 90 90 30 30 other liabilities 100 90 60 70 capital stock, $10 par 300 100 other paid-in capital 100 80 retained earnings 110 30 total equities 700 300 On January 1, 2011, Pub Corporation acquired all of Suns outstanding stock for $300,000. Pub paid $100,000 cash and issued a five-year, 12 percent note for the balance. Sun was dissolved. REQUIRED 1. Prepare a schedule to show how the investment cost is allocated to identifiable assets and liabilities. 2. Prepare a balance sheet for Pub Corporation on January 1, 2011, immediately after theacquisition