On January 1, 2020, Holland Corporation paid $9 per share to a group of Zeeland Corporation shareholders to acquire 60,000 shares of Zeelands 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 $7.50 per share both before and after the acquisition by Holland. Zeelands acquisition date balance sheet follows:

Current assets	$	15,900		Liabilities	$	240,500
Property and equipment (net)		309,900		Common stock		100,000
Patents		214,700		Retained earnings		200,000
	$	540,500			$	540,500

On January 1, 2020, Holland assessed the carrying amount of Zeelands equipment (5-year remaining life) to be undervalued by $48,000. Holland also determined that Zeeland possessed unrecorded patents (10-year remaining life) worth $392,600. Zeelands acquisition-date fair values for its current assets and liabilities were equal to their carrying amounts. Any remaining excess of Zeelands 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	$	(559,200	)		$	(447,500	)
Cost of goods sold		283,600				209,500
Depreciation expense		70,000				32,100
Amortization expense		15,900				19,100
Other operating expenses		59,600				57,800
Equity in Zeeland earnings		(48,084	)			0
Separate company net income	$	(178,184	)		$	(129,000	)
Retained earnings 1/1	$	(822,100	)		$	(347,800	)
Net income		(178,184	)			(129,000	)
Dividends declared		50,000				30,000
Retained earnings 12/31	$	(950,284	)		$	(446,800	)
Current assets	$	126,900			$	100,500
Investment in Zeeland		629,448				0
Property and equipment (net)		856,000				278,000
Patents		152,800				170,500
Total assets	$	1,765,148			$	549,000
Liabilities	$	(494,864	)		$	(2,200	)
Common stockHolland		(320,000	)			0
Common stockZeeland		0				(100,000	)
Retained earnings 12/31		(950,284	)			(446,800	)
Total liabilities and owners equity	$	(1,765,148	)		$	(549,000	)

At year-end, there were no intra-entity receivables or payables.

1. Compute the amount of goodwill recognized in Hollands acquisition of Zeeland and the allocation of goodwill to the controlling and noncontrolling interest.

2. Show how Holland determined its December 31, 2021, Investment in Zeeland account balance.

3. Prepare a worksheet to determine the amounts that should appear on Hollands December 31, 2021, consolidated financial statements.

Amount a1. Goodwill Controlling Interest NCI a2. Goodwill allocation Amount b. Initial Value Change in Zeeland's RE Excess amortization Investment in Zeeland