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

$$306,000,$ which gives Belden the ability to significantly Influence Sheffield. Sheffield has a net book value of $$784,000$ at January $1,$

Sheffield's asset and liability accounts showed carrying amounts considered equal to falr 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 $$182,000$ in $2023$ and $$244,000$ of net Income during $2024.$ Dividends of $$64,000$ and $$90,000$ are

declared and pald in $2023$ and $2024,$ respectlvely. Belden uses the equity method.

Requlred:

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 $$412,000$ 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 equlty Income should Belden recognize for the year $2024?$