On Decembet 31, 2022. Akron Incorporated, purchased 5 petcent of Zip Company's common shares on the open mariket in oxchange for $15,650 On December 31,2023 , Akron, Incorporated, acquites an additional 25 percent of Zip Company's outstanding common stock fos $95,000. During the next two years, the following information is avallabse for Zip Company. At December 31, 2023, Zip reports a net book value of $280,000 Avon antributed any excess of its 30 percent share of Zip's fair over book value to its thare of 2 p's franchise agreements The franchuse ogreements had a remaining iffe of 10 years at December 3t. 2023 Required: a. Assume Avron applies the equily method to its livestment in Zip account 1. What amount of equity income should Akron tepont for 2024 ? 2 On Akron's December 31,2024 , balance sheet what amount as reported foe the linvestment in Zip account? b. Assume Akion uses tak- value accounting fot as investmers in Zip account t. What afnount of income from iss investment in Zip should Akron report for 2024