On January 1, 2020, Holland Corporation paid $9 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 $250 per share both before and after the acquisition by Holland Zeeland's acquisition date balance sheet follows Current assets Property and equipment (net) Patents $ 24,00 Llabilities 308,100 Comon stock 191.00 Retained earnings $512,500 $213,500 100,000 200,000 $ 513,500 On January 1, 2020, Holland assessed the carrying amount of Zeeland's equipment (5-year remaining life) to be undervalued by $56,000 Holland also determined that Zeeland possessed unrecorded patents (10 year remaining life) worth $290,200. Zeeland's acquisition date for values for its current assets and abilities 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 Zeeland Sales (652,200) $(429,500) Cost of goods sold 330,900 200,500 Depreciation expense 81,500 33,900 Amortization expense 14,100 20,900 other operating expenses 52,400 3,200 Equity in Zeeland earnings (42.461) Separate company net income $(215,768) 5 (111,000) Retained earnings 1/1 $(120,100) 5 (299,280) Net Income (215,768) (111,000) Dividends declared 50, ce 30,000 Retained earnings 12/11 $ (906,068) $ (300,200) 0 $ 32, see Current assets Investment in Zeeland Property and equipment (net) Patents Total assets 1 125, 100 599,856 830,00 149,200 $1,712, 156 260,000 140, 500 $ 491,000 Liabilities Common stock-Holland Common Stock-eeland retained earnings 12/31 Total liabilities and owners equity $ (406,088) (920,000) 0 (906.06 $61,712,156) $ (10,800 (100,000) (330, 200) 5491,000) At year-end, there were no intra-enuty receivables or payables a. Compute the amount or 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 December 31, 2021. consolidated financial statements