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Would like to double check my work, this is what I got for each problem: A: $52,000 $1,600,000-$1,240,000-$100,000=$260,000 $260,000/5= $52,000 B: $76,300 $270,000-$52,000=$218,000 $218,000*.35= $76,300

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Would like to double check my work, this is what I got for each problem:

A: $52,000

$1,600,000-$1,240,000-$100,000=$260,000

$260,000/5= $52,000

B: $76,300

$270,000-$52,000=$218,000

$218,000*.35= $76,300

C. $525,800

$147,000+$320,000+$76,300- 17,500= $525,800

$50,000*.35= $17,500

Dash, Inc. acquires 15% of Express Co. on January 1, 2019 for $147,000 and appropriately accounted for the investment using the fair-value method. On January 1, 2020, Dash purchased an addition al 20% of Express for $320,000, achieving the ability to exert significant influence over Express. On that date, the fair value of Express's common stock was $1,600,000 in total. Express's January 1, 2020, book value equaled $1,240,000, although land was undervalued by $100,000. Any addition al excess cost over fair value was attributable to an undervalued patent with a 5-year remaining life. During 2020, Express reported net income of $270,000 and paid dividends of $50,000. Based on the above information, use the prospective approach to account for the change to the equity method and determine the following numbers. (a) The amount of annual excess amortization for 2020. Answer: (b) The amount of equity income that Dash should report for 2020. Answer: (c) Compute the balance of Investment in Express account at the end of 2020

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