Belden, Incorporated, acquires $30$ percent of the outstanding voting shares of Sheffield, Incorporated, on January $1,2023,$

for $$316,000,$ which gives Belden the ability to significantly influence Sheffield. Sheffield has a net book value of $$796,000$

at January $1,2023.$ Sheffield's asset and liability accounts showed carrying amounts considered equal to fair values,

except for a copyright whose value accounted for Belden's excess cost over book value in its $30$ percent purchase. The

copyright had a remaining life of $16$ years at January $1,2023.$ No goodwill resulted from Belden's share purchase.

Sheffield reported net income of $$192,000$ in $2023$ and $$232,000$ of net income during $2024.$ Dividends of $$64,000$ and

$$96,000$ are declared and paid in $2023$ and $2024,$ respectively. Belden uses the equity method.

Required:

a$.$ On its $2024$ comparative income statements, how much income would Belden report for $2023$ and $2024$ in connection

with the company's investment in Sheffield?

b$.$ If Belden sells its entire investment in Sheffield on January $1,2025,$ for $$436,000$ cash, what is the impact on Belden's

income?

c$.$ Assume that Belden sells inventory to Sheffield during $2023$ and $2024$ as follows:

What amount of equity income should Belden recognize for the year $2024?$