On January 1, 2020, Paika, inc, acquired 70 percent of the outstanding shares of Sellinger Company for $1,649.200 in cash. The price paid was proportionate to Selinger's total fair value, although at the acquisition date. Selinger had a total book value of $2100.000. All assets acquired and llabilities assumed had fair values equal to book values except for a patent (sticyear remaining life) that was undervalued on Sellinger's accounting records by $245,000 On January 1, 2021, Paka acquired an additional 25 percent common stock equity interest in Sellinger Company for $86.250 in cash. On its internai records. Paka uses the equity method to account for its shares of Selinger. During the two years following the acquisition, Selinger reported the following net income and dividends: 0. Show Paka's journal entry to record its January 1,2021, acquisition of an additional 25 percent ownership of Sellinger Company shares. b. Prepare a schedule showing Palka's December 31, 2021, equity method baiance for its investment in Selinger account. Complete this question by entering vour answers in the tabs below. Show Palka's joumal entry to record its January 1, 2021, acquisition of an additional 25 perctent ownership of Sellinger Company shares. (If no entry is required for a transaction/event, select "No joumal entry required" in the first account field ) Prepare a schedule showing Palka's December 31,2021 , equity method balance for its Investment in Sellinger account. (Amounts to be deducted should be indicated with a minus sign.)