Shames Company is located in London, England. The local currency is the British pound $().$ On January $1,20$X$8,$ Pit Company purchased an $80$ percent interest in Shames for $$404,000,$ which resulted in an excess of cost$-$over$-$book value of $$80,000$ due solely to a trademark having a remaining life of $10$ years. Pit uses the equity method to account for its investment.

Shames's December $31,20$X$8,$ trial balance has been translated into U$.$S$.$ dollars, requiring a translation adjustment debit of $$6,500.$ Shames's net income translated into U$.$S$.$ dollars is $$80,000.$ It declared and paid a $23,000$ dividend on May $1,208.$

Relevant exchange rates are as follows:

January $1,208$

$lon1=$$$1\mathrm{.}60$

$lon1=$$$1\mathrm{.}64$

$lon1=$$$1\mathrm{.}65$

$lon1=$$$1\mathrm{.}63$

May $1,20x8$

Decenber $31,208$

$lon1=$$$1\mathrm{.}65$

Average for $208$

$lon1=$$$1\mathrm{.}63$

Required:

a$.$ Record the dividend received by Pit from Shames.

b$.$ Prepare the entries to record Pit's equity in the net income of Shames and the parent's share of the translation adjustment.

c$.$ Show a calculation of the differential reported on the consolidated balance sheet of December $31,20$X$8,$ and the translation adjustment from differential.

d$.$ Record the amortization of the trademark on Pit's books.

e$.$ Calculate the amount of the translation adjustment reported on the statement of comprehensive income as an element of other comprehensive income.