low/connect.html ssignment-Chapter 1 On January 1, 2017, Ridge Road Company acquired 25 percent of the voting shares of Sauk Trai,Inc., for $3,700,000 in cash. Both companies provide gain access to Sauk Trail's board of directors and thus facilitate future cooperative agreements between the two firms. Ridge Road quickly obtained several seats on Sauk Trail's board which gave it the commercial Internet support services but serve markets in different industries. Ridge Road made the investment to ablity to significantly influence Sauk Trail's operating and The January 1, 2017, carrying amounts and corresponding fair values for Sauk Trail's assets and liabilities 160,000 160,000 5,450,000 6,500,e00 4,108,000 2,100,00e Computing equipment Patented technology 158,000 280,000 (235,088) Liabilities (235,e00) Also as of January 1, 2017, Sauk Trail's computing equipment ha technology was estimated to have a four-year remaining useful life. The trademark's useful life was considered attributed to goodwill any unidentified excess cost d a seven-year remaining estimated useful life. The patented indefinite. Ridge Road During the next two years. Sauk Trail reported the following net income and dividends Dividends Net IncomeDeclared 2018 2,085,000 210,000 o. How much of Ridge Road's $3,700.000 payment for Sauk Trail is attributable to goodwill? b, what amount should Ridge Road report for its equity in Sauk Trail's earnings on its income statements for 2017 and 2018? c. What amount should Ridge Road report for its investment in Sauk Trail on its balance sheets at the end of 2017 and 2018