On January 1, 2020. Holland Corporation paid $8 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 $6.50 per share both before and after the acquisition by Holland. Zeeland's acquisition date balance sheet follows: Current assets Property and equipment (net) Patents $ 14,800 268,800 200,400 Liabilities Common stock Retained earnings $ 224,000 100,000 160,000 $ 484,000 $ 484,000 On January 1, 2020, Holland assessed the carrying amount of Zeeland's equipment (5-year remaining life) to be undervalued by $63,000. Holland also determined that Zeeland possessed unrecorded patents (10-year remaining life) worth $315,600. 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, 2021, follow: Sales Cost of goods sold Depreciation expense Amortization expense Holland $ (734,100) 372,200 92,000 14,800 Zeeland $ (436,500) 204,000 Other operating expenses Equity in Zeeland earnings Separate company net income Retained earnings 1/1 Net income Dividends declared Retained earnings 12/31 Current assets Investment in Zeeland Property and equipment (net) Patents Total assets Liabilities 55,200 (44,384) $ (244,204) $ (821,000) (244,284) 50,000 $(1,015,204) 33,200 20,200 61,100 $ (118,000) $ (318,100) (118,000) 30,000 $ (406,100) $ 125,800 $ 89,500 574,668 845,000 267,000 150,600 155,500 $ 1,696,068 $ 512,000 $ (360,864) $ (5,900) Common stock-Holland Common stock-Zeeland Retained earnings 12/31 Total liabilities and owners equity (320,000) (1,015,204) $(1,696,068) (100,000) (406,100) $ (512,000) 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, 2021, Investment in Zeeland account balance. c. Prepare a worksheet to determine the amounts that should appear on Holland's December 31, 2021, consolidated financial statements.