7 14.32 points Skipped Check my work Sheffield reported net income of $180,000 in 2020 and $230,000 of net income during 2021 Dividends of $70,000 and $80,000 are declared and paid in 2020 and 2021, respectively. Belden uses the equity method a. On its 2021 comparative income statements, how much income would Belden report for 2020 and 2021 in connection with the company's investment in Sheffield? b. If Belden sells its entire investment in Sheffield on January 1, 2022, for $400,000 cash, what is the impact on Belden's income c. Assume that Belden sells inventory to Sheffield during 2020 and 2021 as follows: Cost to Price to Belden eBook Year 2020 Sheffield $30,000 $50,000 Print 2021 33,000 60,000 References Required: Determine the following amounts. Year-End Balance (at Transfer Price) $20,000 (sold in followding year) 40,000 (sold in following year) Equity income 2020 Equity Income 2021 D Loss on sale of investment C Equity income 2021