Peanut Company acquired $80$ percent of Snoopy Company's outstanding common stock for $$280,000$ on January $1,20$X$8,$ when the book value of Snoopys net assets was equal to $$350,000.$ Peanut uses the equity method to account for investments. The following trial balance summarizes the financial position and operations for Peanut and Snoopy as of December $31,209.$

$\backslash$table$[[$Cash$,$Peanut Company,$8$noopy Company$],[$Debil$,$Credit,Debit,Credit$],[$Accounts Recelvable,$$272,000,,$$$78,000,],[$Inventory$,200,000,,83,000,],[$Investment in Snoopy Company,$197,000,,\backslash$table$[[107,000],[0]],],[$Land$,320,000,,80\mathrm{.}000,],[$Bulidings and Equipment,$217,000,,\backslash$table$[[80,000],[194,000]],],[$Cost of Goods Sold,$708,000,,166,000,],[$Depreciation Expense,$\backslash$table$[[350,000],[40\mathrm{.}000]],,13,000,],[$Selling & Administrative Expense,$\backslash$table$[[40,000],[214,000]],,40,000,],[$Dividends Declared,$218,000,,33,000,],[$Accumulated Depreciation,,$$497,000,,\backslash$table$[[$$$39,000$