On January 1, 2017, Holland Corporation paid $7 per share to a group of Zeeland Corporation shareholders to acquire 60,000 shares of Zeeland's outstanding voting stock, representing a 60 percent ownership interest. The remaining 40,000 shares of Zeeland continued to trade in the market close to its recent average of $5.00 per share both before and after the acquisition by Holland. Zeeland's acquisition date balance sheet follows: 15,000 Liabilities 209,000 Common stock 203,000Retained earnings 427,000 s 227,000 100,000 100,000 $ 427,000 Current assets Property and equipment (net) Patents On January 1, 2017, Holland assessed the carrying amount of Zeeland's equipment (5-year remaining life) to be undervalued by $65,000. Holland also determined that Zeeland possessed unrecorded patents (10-year remaining life) worth $226,600. Zeeland's acquisition-date fair values for its current assets and liabilities were equal to their carrying amounts. Any remaining excess of Zeeland's acquisition-date fair value over its book value was attributed to goodwill. The companies' financial statements for the year ending December 31, 2018, follow: Zeeland $757,500) $ (438,500) 205,000 33,000 20,000 60,500 Holland Sales Cost of goods sold Depreciation expense Amortization expense Other operating expenses Equity in Zeeland earnings 384,000 95,000 15,000 56,000 (50,604 $ (258,104 Separate company net income (120,000) Retained earnings 1/1 Net income Dividends declared (323,500) (120,000) 30,000 $(1,029,304) (413,500) $ (821,200) (258,104) 50,000 Retained earnings 12/31 $126,000 565,308 847,000 151,000 $1,689,308 $ 91,500 Current assets Investment in Zeeland Property and equipment (net) Patents 269,000 157,500 Total assets $518,000 Liabilities Common stock-Holland Common stockZeeland Retained earnings 12/31 (340,004) (4,500) (320,000) (100,000) (1.029,304) (413,500 $(1,689,308) (518,000) Total liabilities and owners equity At year-end, there were no intra-entity receivables or payables. a. Compute the amount of goodwill recognized in Holland's acquisition of Zeeland and the allocation of goodwill to the controlling and noncontrolling interest. b. Show how Holland determined its December 31, 2018, Investment in Zeeland account balance. c. Prepare a worksheet to determine the amounts that should appear on Holland's December 31, 2018, consolidated financial statements Complete this question by entering your answers in the tabs b Req A and BReq C controlling and noncontrolling interest. b. Show how Holland determined its December 31, 2018, Investment in Zeeland account balance. Amount a1 Goodwill Controlling Interest NCI a2. Goodwill allocation Amount Investment in Zeeland 12/31/18