Peanut Company acquired $100$ percent of Snoopy Company's outstanding common stock for $$308,000$ on January $1,20$X$8,$ when the book value of Snoopy's net assets was equal to $$308,000.$ Peanut uses the equity method to account for investments. Trial balance data for Peanut and Snoopy as of December $31,20$X$8,$ are as follows:

$\backslash$table$[[,$Peanut Company,Snoopy Company$],[$Cash$,$Debit,Credit,Debit,Credit$],[$Accounts Receivable,$$149,000,,$$$89,000,],[$Inventory$,176,000,,73,000,],[$Investment in Snoopy Company,$217,000,,80,000,],[$Land$,326,000,,0,],[$Buildings and Equipment,$203,000,,94,000,],[$Cost of Goods Sold,$716,000,,186,000,],[$Depreciation Expense,$207,000,,135,000,],[$Selling and Administrative Expense,$51,000,,19,000,],[$Dividends Declared,$242,000,,47,000,],[$Accumulated Depreciation,$101,000,,36,000,],[$Accounts Payable,,$$438,000,,$$$38,000$