Exercise 2: (8 Marks) On January 3, 2022, Matteson Corporation acquired 35 percent of the outstanding common stock of O'Toole Company for $1,200,000. This acquisition gave Matteson the ability to exercise significant influence over the investee. The book value of the company was $2,200,000. Any excess cost over the underlying book value was assigned to a copyright that was undervalued by 350,000 on its balance sheet. This copyright has a remaining useful life of 8 years. For the year ended December 31,2022,0 'Toole reported net income of $260,000 and declared cash dividends of $50,000. 1-Determine the value of the goodwill. 2-At December 31, 2022, what should Matteson report as its investment in O'Toole under the equity method