On January 1,2020. Alison, Inc., paid $60,000 for a 40 percent interest in Holister Corporation's common stock. This investee had assets with a book value of $200,000 and liabilities of Question 1: ( 10 Points) $75,000. A patent held by Holister having a $5,000 book value was actually worth $20,000. This patent had a six-year remaining life. Any further excess cost associated with this acquisithion was attributed to goodwill. During 2020, Holister earned income of $30,000 and declared and paid dividends of $10,000. In 2021, it had income of $50,000 and dividends of $15,000. (a) (5 Points) Alison uses the equity method, what balance should appear in the Investment in Holister account as of December 31, 2021? (b. (s Dodntw) What is the badane of income from liotiater account an repartial om the On January 1,2020. Alison, Inc., paid $60,000 for a 40 percent interest in Holister Corporation's common stock. This investee had assets with a book value of $200,000 and liabilities of Question 1: ( 10 Points) $75,000. A patent held by Holister having a $5,000 book value was actually worth $20,000. This patent had a six-year remaining life. Any further excess cost associated with this acquisithion was attributed to goodwill. During 2020, Holister earned income of $30,000 and declared and paid dividends of $10,000. In 2021, it had income of $50,000 and dividends of $15,000. (a) (5 Points) Alison uses the equity method, what balance should appear in the Investment in Holister account as of December 31, 2021? (b. (s Dodntw) What is the badane of income from liotiater account an repartial om the