please prepare four T- accounts ( Investments, NCi,NCS and Income)

P6-9 Workpaper (upstream sales current and previous years) Par Corporation acquired an 80 percent interest in Sin Corporation on January 1, 2011, for $108,000 cash, when Sin's capital stock was $100,000 and retained earnings were $10,000. The difference between investment fair value and book value acquired is due to a patent being amortized over a 10- year period. Separate fnancial statements for Par and Sin on December 31, 2014, are summarized as follows i thousands): Par Sin Combined Income and Retained Earnings Statement for the Year Ended December 31, 2014 $650 42 $120 Income from Sin Cost of sales Other expenses (40) Net income Add: Beginning retained earnings Deduct: Dividends 132 50 20 95.6 Retained earnings December 31 Balance Sheet at December 31, 2014 s 50 Accounts receivable Inventories Plant assets Accumulated depreciation Investment in Sin $ 58 40 60 290 (70) s 20 20 35 205 (100) Total assets Accounts payable Capital stock 300 100 Retained eamings Total equities 180 ADDITIONAL INFORMATION 1. Sin's sal $1,000 profit on goods goods acquired from Sin. es include intercompany sales of $8,000, and Par's December 31, 2014, inventory includes uired from Sin, Par's December 31, 2013, inventory contained $2,000 proft on fr 2. Par owes Sin $4,000 on account. 3 On January I, 2013, Sin sold plant assets to Par for $60,000. These assets bad a book value of $40,000 oD that date and are being depreciated by Par over tive years 4. Park uses the equity method to account for its investnent in Sin