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 $650 per share both before and after the acquisition by Holland. Zestand's acqutomon date balance sheet follows: Current assets Property and equipment (net) Patents 315,400 Liabilities 269,100 Common stock 200, 260 Retained earnings $493,000 $ 211,00 100,000 160,000 $ 499,000 On January 1, 2020, Holland attested the carrying amount of Zeeland's equipment (5 year remaining life) to be undervalued by $53,000 Holland also determined that Zeeland possessed unrecorded patents (10-year remaining fire worth $327,200, 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. Holland Zerland Sales (617,700) 5 (442,500) cost of goods sold 313,100 207.000 Depreciation expense 77,500 32,600 mortization expense 15,400 19,600 other operating expenses 57,600 59,00 Equity in Zeeland earnings (400) Separate company net Income $(203,500) $(124,000) Hetained earnings 1/1 $(021,600 (334,300 Net Income (202,500) (134,000) Dividends declared 30,000 netained earnings 12/31 $(574,101) $(428100 50,000 95,500 Current assets Investment in Zeeland Property and equipment (net) Patents Total assets 126,400 S80,000 451,000 151,000 $ 1,710, 196 277,000 161,500 $530,000 (1,700) (424,000) (320,000) Liabilities Comon stock-Holland Common stock-eeland Retoined earnings 12/31 Total liabilities and owners cquity 00100 $(1,710,190 (100,000) 20300 5 (510,000) At year and there were no intra entity tecorvables or payablet 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 statement