Pistol Corporation purchased $100$ percent ownership of Scope Products on January $1,20$X$6,$ for $$56,000,$ at which time Scope

Products reported retained earnings of $$10,000$ and capital stock outstanding of $$30,000.$ The differential was attributable to patents

with a life of eight years. Income and dividends of Scope Products were:

Required:

Prepare the equity$-$method entries that Pisoi should record to account for this investment in $206,207,$ and $208.$

What is the balance of the Investment in Scope account on Pistol's balance sheet at December $31,20$X$8,$ after all required equity$-$

method entries have been recorded?