Belden, Inc. acquires 30 percent of the outstanding voting shares of Sheffield, Inc on January 1, 2017, for $320,000, which gives Belden the ability to significantly influence Sheffield. Sheffield has a net book value of $816,000 at January 1,2017. Sheffield's asset and liability accounts Belden's excess cost over book value in its 30 percent purchase. The copyright had a remaining life of 16 years at January 1, 2017. No goodwill resulted from Belden's share purchase. carrying amounts considered equal to fair values except for a copyright whose value accounted for declared and paid in 2017 and 2018, respectively. Belden uses the equity method a On its 2018 comparative income statements, how much income would Belden report for 2017 and 2018 in connection with the s investment in Sheffield? b. If Belden sells its entire investment in Sheffield on January 1, 2019, for $406.000 cash, what is the impact on Belden's income? c. Assume that Belden sells inventory to Sheffield during 2017 and 2018 as follows. What amount of equity income should Belden recognize for the year 2018? Bal $18,800 (sold in fo 32,330 61,088 38,000 (sold in following year) on sale of