Show me the steps to solve: On January $1,2023,$ Holland Corporation paid $$8$ per share to a group of Zeeland Corporation shareholders to acquire $60,000$ shares of Zeeland$$s 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 $$6\mathrm{.}00$ per share both before and after the acquisition by Holland. Zeeland$$s acquisition date balance sheet follows:

Current assets $ $16,300$ Liabilities $ $246,500$

Property and equipment $($net$)250,300$ Common stock $100,000$

Patents $219,900$ Retained earnings $140,000$

$ $486,500$ $ $486,500$

On January $1,2023,$ Holland assessed the carrying amount of Zeeland$$s equipment $(5-$year remaining life$)$ to be undervalued by $$44,000.$ Holland also determined that Zeeland possessed unrecorded patents $(10-$year remaining life$)$ worth $$307,400.$ Zeeland$$s acquisition$-$date fair values for its current assets and liabilities were equal to their carrying amounts. Any remaining excess of Zeeland$$s acquisition$-$date fair value over its book value was attributed to goodwill.

The companies$$ financial statements for the year ending December $31,2024,$ follow:

Account Holland Zeeland

Sales $ $(512,400)$ $ $(451,500)$

Cost of goods sold $260,000211,500$

Depreciation expense $64,00031,700$

Amortization expense $16,30018,700$

Other operating expenses $61,20056,600$

Equity in Zeeland earnings $(56,076)0$

Separate company net income $ $(166,976)$ $ $(133,000)$

Retained earnings, $1/1$ $ $(822,500)$ $ $(358,600)$

Net income $(166,976)(133,000)$

Dividends declared $50,00030,000$

Retained earnings, $12/31$ $ $(939,476)$ $ $(461,600)$

Current assets $ $127,300$ $ $104,500$

Investment in Zeeland $625,5120$

Property and equipment $($net$)860,000282,000$

Patents $153,600179,500$

Total assets $ $1,766,412$ $ $566,000$

Liabilities $ $(506,936)$ $ $(4,400)$

Common stock$$Holland $(320,000)0$

Common stock$$Zeeland $0(100,000)$

Retained earnings, $12/31(939,476)(461,600)$

Total liabilities and owners' equity $ $(1,766,412)$ $ $(566,000)$

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

Required:

a$1.$ Compute the amount of goodwill recognized in Holland's acquisition of Zeeland.

a$2.$ Show the allocation of goodwill to the controlling and noncontrolling interest.

b$.$ Show how Holland determined its December $31,2024,$ Investment in Zeeland account balance.

c$.$ Prepare a worksheet to determine the amounts that should appear on Holland$$s December $31,2024,$ consolidated financial statements.