$8.$ Monroe Company owns $40\%$ of the voting stock of Nartal Industries, acquired at book value. Nartal reports income of $$600,000$ for the current year. Nartal regularly sells merchandise to Monroe at a markup of $30\%$ on cost$.$ Monroe's beginning inventory includes $$156,000$ purchased from Nartal. Its ending inventory includes $$260,000$ purchased from Nartal. Monroe uses the equity method to report its investment in Nartal. Equity in net income of Nartal for the year