On January 1, 2008, Jackie Corp. purchased 30% of the voting common stock of Rob Co., paying $2,000,000. Jackie properly accounts for this investment using the equity method. At the time of the investment, Rob's total stockholders' equity was $3,000,000. Jackie gathered the following information about Rob's assets and liabilities whose book values and fair values differed: Buildings - 15 year life Book Value $1,000,000 Fair Value $1,500,000 Equipment - 5 years life Book Value $2,500,000 Fair Value $3,000,000 Franchises 10 year life Book Value $0 Fair Value $ 500,000 Any excess of cost over fair value was attributed to goodwill, which has not been impaired. Rob Co. reported net income of $300,000 for 2008, and paid dividends of $100,000 during that year.

1. What is the amount of excess of purchase price over book value?????? $100000. $400000. $800000 $1100000 (need calculation)

2.Whay is the balance in Jackies Corp's investment in Rob Co. account at December 31, 2008????? $2000000 $2005000 $2060000 (need calculation)