On Janury 2, 201, Heinreich Co. paid $500,000 for 24% of the voting common stock of jones corp. At the time of investment, Jones had net assets with a book value of $1,800,000. During 20x1 , Jones incurred a net loss of $60,000 and paid dividends of $100,000. Any excess cost over book value is attribute to goodwill with an indefinite life.

1). prepare a schedule to show the amount of goodwill from Heinrich's investment in Jones.

2). Prepare a schedule to show teh balance in Heinrich's investment account Deceber 31, 20x1