kimmy Corporation stockholders equity at December 31, 2032 consisted of the following: (thousands) Common stock, $ 3 par 50,000 shares issued and outstanding Additional paid in capital Retained earnings On January 1, 2020 Acme issued 25,000 previously unissued shares that were all purchased by Bugs Corporation for $ 250,000. Acme assets and liabilities were all equal to fair value at January 1, 2020 except for land that was undervalued by $ 60,000 and equipment that was overvalued by $10,000 remaining useful life of 10 years. Acme reported profits of $ 60,000 during the year and paid dividends of 15 cents per share The equity method will be used here Required

a) Record the purchase of the investment by Bugs Corporation on January 1 2020 b) Record the receipt of dividends during the year by Bugs Corporation c) Record any other entry during the year that should be done by Bugs Corporation d) What is the amount of good will if any , paid by Bugs Corporation e) What is the balance at December 31, 2020 in the investment account on Bugs Corporation books