Anderson Company acquired 40 percent of the outstanding voting stock of Andy company on January 1, 2020, for $360,000 in cash and had the ability to significantly influence the investee's operation and decision making. The book Value of Andy's net asset on that date was $600,000, although one of the company's buildings, with a $70,000 carrying amount, was actually worth $120,000. This building had a 10 year remaining life. Andy owned a royalty agreement with a 5-year remaining life that was undervalued by $100,000. Anderson attributed to goodwill any unidentified excess cost.

Andy reported net income of $80,000 in 2020 and $100,000 in 2021. Dividends of $10,000 and $15,000 are declared and paid in 2020 and 2021, respectively.

Anderson sold inventory with an original cost of $28,000 to Andy during 2020 at a price of $40,000. Andy still held $10,000 (transfer price) of this amount in inventory as of December 31,2020. These goods are sold to outside parties during 2021.

During 2021, Anderson made a additional inventory sales of $80,000 to Andy during the period. The original cost of the merchandise was $64,000. Andy did not resell 25 percent of these 2021 purchases from Anderson until 2022. Answer the following question.

1. How much of Anderson's $360,000 payment for Andy attributable to goodwill? ________

2. What amount should Anderson report for its equity in Andy earnings on its income statement for Year 2021? _________

3. What amount should Anderson report for its investment in Andy on its balance sheet at the end of 2021? ________