On 1 anuary 20x5, Zan Compary purchased 5,750 of the 23,000 outstanding common shares of Woo Computer Corp. (WC) for $171,000 cash. Zan had significant influence as a result of the investment and will use the equity method to account for the investment. 1-2. Indicate the amount of goodwill purchased. On 1 January zox5, the statement of financial position of WC showed the following book values (summarized): "Fair value, \$242,400; difference relates to land. 2. Are any entries needed to recognize a writedown to fair value at the end of 205 or 206 ? "FFair value, \$199,600, estimated remaining life, 5 years. YesNo Assume there is no impairment of goodwill. Additional subsequent data on WC are as follows: 3. Reconstruct the investment account, showing the opening and closing balances and all changes in the account. Required: 1-1. Provide the investor's entries or give the required information for: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Entry at date of acquisition. c. Entries at 31 December 205 to recognize investment revenue and dividends. d. Entries at 31 December 206 to recognize investment revenue and dividends. 4-1. How much in westment revenue would be reported each year if the cost method was used? 4-2. What would be the balance in the investment account