At the beginning of the current year, Packwild Tours Inc. acquired 60 percent of Snowbird Resorts’ common stock for $45 million in cash and stock. The estimated fair value of the noncontrolling interest was $20 million. At the date of acquisition, Snowbird’s equity accounts consisted of capital stock of $19 million and a retained earnings deficit of $4 million. Snowbird reports its identifiable net assets at amounts approximating fair value, with these exceptions: land is undervalued by $1.0 million, property ( 20 -year remaining life) is overvalued by $5.0 million, and previously unreported technology with an indefinite life was valued at $10.0 million. For the year following acquisition, Snowbird reports net income of $80,000. Impairment testing reveals $200,000 in impairment on the technology but no impairment of other assets. Packwild reports its investment in Snowbird on its own books using the complete equity method. Note: Enter all zeros with your numerical answers, do not abbreviate your answers in thousands or in millions. a. Calculate the amount of goodwill originally reported for this acquisition. $Answer 0 b. Calculate equity in net income for the current year, reported on Packwild’s books, and the noncontrolling interest in Snowbird’s income, reported on the consolidated income statement. Note: Use negative signs with answers that reduce net income amounts. TotalEquity in NINoncontrolling Interest in NI Snowbird’s reported net incomeAnswer 0 Answer 0 Answer 0 Revaluation write-offs: PropertyAnswer 0 Answer 0 Answer 0 TechnologyAnswer 0 Answer 0 Answer 0 Answer 0 Answer 0 Answer 0