Pistol Corporation purchased 100 percent ownership of Scope Products on January 1, 20X6, for $63,000, at which time Scope Products reported retained earnings of $12,000 and capital stock outstanding of $26,000. The differential was attributable to patents with a life of four years. Income and dividends of Scope Products were Year 20x6 20x7 20x8 Net Income $17,000 25,000 33,000 Dividends $ 9,000 11,000 11,000 Required: 1. Prepare the equity method entries that Pistol should record to account for this investment in 20X6, 20X7, and 20X8. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 3 4 5 6 7 8 9 10 Record the equity-method income/loss for 20X6. Note: Enter debits before credits. Date General Journal Debit Credit (10) Journal entry worksheet 1 2 3 5 6 7 8 9 10 > Record the amortization of the differential value for 20x6. Note: Enter debits before credits. General Journal Debit Credit Date (10) Record entry Clear entry View general journal Record the amortization of the differential value for 20x7. Note: Enter debits before credits. General Journal Debit Credit Date (2c) Record entry Clear entry View general journal Journal entry worksheet 2 3 4 5 6 7 8 8 9 10 Record the dividend from Scope Company for 20x8. Note: Enter debits before credits. Date General Journal Debit Credit (3a) Record entry Clear entry View general journal Journal entry worksheet 2 3 4 5 6 7 8 9 10 Record the equity-method income/loss for 20x8. Note: Enter debits before credits. General Journal Debit Credit Date (3b) Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 7 8 9 10 > Record the amortization of the differential value for 20x8. Note: Enter debits before credits. General Journal Debit Credit Date (3c) Record entry Clear entry View general journal 2. What is the balance of the Investment in Scope account on Pistol's balance sheet at December 31, 20X8, after all required equity method entries have been recorded? Balance of investment account