All assets acquired and liabilities assumed had fair values equal to book values except for a patent (six-year remaining iffe) that was undervalued on Sellinger's accoumtinn recorets by $291,000 On January 4.2021 . Palka aceuired an additional 25 percent common stock equity interest in Selinger Company for $513,125 in cash, On its internal records. Palka uses the equity method to account for its shares of Sellinger. During the two years following the acquisition, Sellinger reported the following net income and dividends: a. Show Palka's joumal entry to record its January 1,2021, acquisition of an additional 25 percent ownership of Selinger Company shares. b. Preoare a schedule showing Palka's December 31,2021 equity method balance for its investment in Sellinger account. Complete this question by entering your answers in the tabs below. Show Palka's journal entry to record its January 1, 2021, acquisition of an additional 25 percent ownership of Sellinger Company shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Prepare a schedule showing Palka's December 31, 2021, equity method balance for its Investment in Sellinger account. (Amounts to be deducted should be indicated with a minus sign,)