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 count Cont) Patents $ 15,400 Libilities 269,400 Comon stock 208,200 tained carings $493,000 $ 273,000 100,000 160,000 On January 1, 2020, Holland assessed 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 life worth $327,200 Zeeland's acquisition date fair values for its current assets and abilities were equal to the carrying amounts. Any remaining excess of Zeeland's acquisition date for value over its book value was attributed to goodwill The companied financial statements for the year ending December 31, 2021. follow wold Tend Sales $ (617,700) Cost of boods sold 13,100 207,000 Depreciation expenst 77,500 12,600 ortization expense 15,400 19,600 other operating expenses 57,600 Equity in Zeeland earnings (40,400 Separate company net incon 5 (202,00) 5 (124,000) 59,00 Tetained earnings 1/1 Net Income Dividends declared tetained ning 12/31 (131,00 (202,500) 50,000 5 (974.100) $3,300) (124.00) 30,000 (0) 5 95.500 Current Assets westment in Zeeland Property and equipment (net) Patent Total sets $ 136,400 1996 153,000 273.000 101,500 51,00 $ (1700) abilities Condon Stocolland Common stocked Retained earnings 12/31 Total abilities and owners equity $ (424,000 (320,000 0 (974, $0,70,130) (100,000 (30300) 5 530,000) At year and there were no intentity receivables or payables Comote 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 to December 312021. Investment in Zeeland account balance c. Prepare a worksheet to determine the amounts that should beat on Holland's December 3 2024 consolidated finantot statements 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 count Cont) Patents $ 15,400 Libilities 269,400 Comon stock 208,200 tained carings $493,000 $ 273,000 100,000 160,000 On January 1, 2020, Holland assessed 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 life worth $327,200 Zeeland's acquisition date fair values for its current assets and abilities were equal to the carrying amounts. Any remaining excess of Zeeland's acquisition date for value over its book value was attributed to goodwill The companied financial statements for the year ending December 31, 2021. follow wold Tend Sales $ (617,700) Cost of boods sold 13,100 207,000 Depreciation expenst 77,500 12,600 ortization expense 15,400 19,600 other operating expenses 57,600 Equity in Zeeland earnings (40,400 Separate company net incon 5 (202,00) 5 (124,000) 59,00 Tetained earnings 1/1 Net Income Dividends declared tetained ning 12/31 (131,00 (202,500) 50,000 5 (974.100) $3,300) (124.00) 30,000 (0) 5 95.500 Current Assets westment in Zeeland Property and equipment (net) Patent Total sets $ 136,400 1996 153,000 273.000 101,500 51,00 $ (1700) abilities Condon Stocolland Common stocked Retained earnings 12/31 Total abilities and owners equity $ (424,000 (320,000 0 (974, $0,70,130) (100,000 (30300) 5 530,000) At year and there were no intentity receivables or payables Comote 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 to December 312021. Investment in Zeeland account balance c. Prepare a worksheet to determine the amounts that should beat on Holland's December 3 2024 consolidated finantot statements