Pistol Corporation purchased 100 percent ownership of Scope Products on January 1, 20X6, for $59,000, at which time Scope Products reported retained earnings of $13,000 and capital stock outstanding of $25,000. 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 $23,000 31,000 39,000 Dividends $ 8,000 10,000 10,000 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.)