On January 1, 2015, Bentley Inc. acquired 24% of Ludwig Inc.'s 230,000 outstanding shares for $15 per share. Ludwig Inc.'s balance sheet on the date of the acquisition contains the following:Carrying amountFair valueAssets not subject to depreciation$369,000$369,000Assets subject to depreciation(8 year remaining life on balance sheet date)1,249,0001,253,000Liabilities211,000211,000

During 2015, Ludwig Inc. reported the following information on its income statement.Net income (loss) for 2015$550,000Cash dividends paid on December 31, 201575,000

Bentley Inc. follows ASPE.

a) Calculate the assumed goodwill. Please make sure your final answer(s) are accurate to the nearest whole number.

Goodwill = $

b) Calculate the annual depreciation of excess payments for capital assets. Please make sure your final answer(s) are accurate to the nearest whole number.

Annual depreciation = $

c) Prepare the journal entries for Bentley Inc. for 2015 assuming that Bentley Inc. can exercise significant influence over Ludwig Inc.'s operations. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). Please make sure your final answer(s) are accurate to 2 decimal places.