PopCorporation acquired a 90 percent interest in Son Corporation's outstanding votingcommon stock on January 1, 2016, for $630,000 cash

PopCorporation
acquired a 90 percent interest in Son Corporation's outstanding votingcommon stock on January 1, 2016, for $630,000 cash. The stockholders' equity of Son on this date consisted of $500,000 capital stock and $200,000 retained earnings. Thefinancial statements
of Pop and Son at and for the year ended December 31, 2016, are summarized as follows(in thousands):
During 2016, Pop made inventory sales of $50,000 to Son at a gross profit of $15,000. One-third of these sales were inventoried by Son at year-end. Son owed Pop $10,000 on open account at December 31, 2016.
Son sold land that cost $20,000 to Pop for $30,000 on July 1, 2016. Pop still owns the land. On January 1, 2016, Pop sold equipment with a book value of $20,000 and a remaining useful life of four years to Son for $40,000. Son uses straight-line depreciation and assumes nosalvage value on this equipment.
REQUIRED:
Prepare a consolidation workpaper for Pop and Subsidiary for the year ended December 31, 2016.