E 2-3 Calculate percentage ownership and goodwill on investment acquired directly from investee Son Corporation’s stockholders’ equity at December 31, 2015, consisted of the following

E 2-3 Calculate percentage ownership and goodwill on investment acquired directly from investee Son Corporation’s stockholders’ equity at December 31, 2015, consisted of the following (in thousands): Capital stock, $10 par, 60,000 shares issued and outstanding $600 Additional paid-in capital 150 Retained earnings 250 Total stockholders’ equity $1,000 On January 1, 2016, Pop Corporation purchased 20,000 previously unissued shares of Son stock directly from Son Corporation for $500,000. Required Calculate Pop Corporation’s percentage ownership in Son. Determine the goodwill (if any) from Pop’s investment in Son. Assume book values of all identifiable assets and liabilities equal the fair values.

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