1.5

Sheffield reported net income of $200,000 in 2020 and $256,000 of net income during 2021. Dividends of $90,000 and $60,000 ate declared and paid in 2020 and 2021 , respectively. Belden uses the equity method. a. On its 2021 comparative income statements, how much income would Beiden report for 2020 and 2021 in connection with the company's investment in Sheffieid? b. If Belden selts its entire investment in Sheffield on January 1, 2022, for $400,000cash, what is the impact on Belden's income? c. Assume that Belden sells inventory to Sheffeld during 2020 and 2021 as follows: Required: Determine the following amounts