nuary 1, 2011. Paisley Incorporated paid $300,000 for 60% of SmarniaCompany's outstanding capital stock. Smarnia ited common stock onthat date of $250,000 and retained earnings of $100,000. Plant assets, which had a five-year aininglife were undervalued in Smarnia's financial records by $10,000. Smarnia alsohad a patent that was not on the ks, but had a market value of $60,000. Thepatent has a remaining useful life of 10 years. Any remaining fair e/bookvalue differential is allocated to goodwill. Smarnia's net income and dividendspaid the first three years that ley owned them are shown below. Net Dividends Income Paid 11 80.000 30.000 12 90.000 10.000 13 60.000 20.000 ey Use Acquisition Methods & Implied Goodwill & Equity Mehtod For Investment Account Base on this case ease answer the following Questions