Feather Ltd. invested $1 million in Goose Corp. early in the current year, receiving 25% of its outstanding shares. At the time of the purchase, Goose Corp. had a carrying amount of $3.2 million. Goose Corp. pays out 35% of its net income in dividends each year. Assume that Feather Ltd. applies IFRS and that the 25% holding of Goose shares is enough to enable Feather to significantly influence the operating, investing, and financing decisions of Goose.

Required

Use the information in the following T account for the investment in Goose to answer the following questions

Investment in Goose Corp
$1,000,000
110,000
	$38,500
	14,000

1. How much was Feather Ltd.'s share of Goose Corp.'s net income for the year?
2. How much was Feather Ltd.'s share of Goose Corp.'s dividends for the year?
3. How much was Feather Ltd.'s annual depreciation of the excess payment for capital assets?
4. What was Goose Corp.'s total net income for the year?
5. What were Goose Corp.'s total dividends for the year?
6. Assuming that depreciable assets had a remaining useful life of 10 years when Feather acquired its investment in Goose, how much of the payment in excess of carrying amount was assigned to goodwill?