On January 1, 2017, Pond Co. acquired 40% of the outstanding voting common shares of Ramp Co. for $700, 000. On that date, Ramp reported assets and liabilities with book values of $2.2 million and $700, 000, respectively. A building owned by Ramp had an appraised value of $300, 000, although it had a book value of only $120, 000. This building had a 12-year remaining life and no salvage value. It was being depreciated on the straight-line basis. Ramp generated net paid a cash dividend of $70, 000 to its stockholders. During 2017, Ramp sold inventory to Pond that had an original cost of $60, 000. The merchandise was sold to Pond for $96, 000. Of this balance, $72, 000 was resold to outsiders during 2017 and the remainder was sold during 2018. In 2018, Ramp sold inventory to Pond for $180, 000. This inventory had cost only $108, 000. Pond resold $120, 000 of the inventory during 2018 and the rest during 2019. a. Compute the excess payment and specify the amount identified with specific asset and goodwill. b. Compute annual amortization expenses and make the journal entry c. Compute the gross profit rate and then unrealized gross profit on intra-unit sale of 2017 and make the journal entry to be made in 2018 d. Compute gross profit rate and unrealized gross profit on intra-unit sale of 2018 and make the journal entry to be made in 2018 e. Compute adjusted Equity income for 2017 f. Compute adjusted Equity income for 2018 g. How much investment amount will be reported in the balance sheet of 2017 h. How much investment amount will be reported in the balance sheet of 2018 i. Make the journal entry to record the basic equity income from investee for 2018 j. Make the journal entry to record dividend received from investee for 2018