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please help fill in the boxes ! On December 31, 2019, Akron, Inc., purchosed 5 percent of Zip Company's common shares on the open market

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On December 31, 2019, Akron, Inc., purchosed 5 percent of Zip Company's common shares on the open market in exchange for $16,200. On December 31, 2020, Akron, Inc, ocquires an additional 25 percent of Zip Company's outstanding common stock for $96,750. During the next two years, the following information is availoble for Zip Company: At December 31, 2020. Zip reports a net book value of $289,000. Akron attributed any excess of its 30 percent share of Zip's fair over book value to its share of Zip's franchise agreements. The franchise agreements had a remaining life of 10 years at Decomber 31, 2020 a. Assume Akron opplies the equity method to its Investment in Zip account: 1. What amount of equity income should Akron report for 2021 ? 2. On Akron's December 31, 2021, balance sheet, what amount is reported for the investment in Zp account? a. Assume Akron applies the equity method to its Investment in Zip account: 1. What amount of equity income should Akron report for 2021 ? 2. On Akron's December 31,2021, balance sheet, what amount is reported for the Investment in Zip account? b. Assume Akron uses fair-value accounting for its Investment in Zip account: 1. What amount of income from its investment in Zip should Akron report for 2021 ? 1. What amount of income from its investment in Zip sh's December 31,2021, balance sheet, what amount is reported for the investment in Zip account

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