On January $2,2020,$ Pull Corp. paid $$516,000$ for $22\%(92,000$ shares$)$ of the outstanding common stock of Olivia Co$.$ Pull used the equity method to account for the investment. At the end of $2020,$ the balance in the investment account was $$820,000.$ On January $2,2021,$ Pull sold $40,000$ shares of Olivia stock for $$12$ per share. For $2021,$ Oliver reported income of $$248,000$ and paid dividends of $$40,000.$

Required:

$($A$.)$ Prepare the journal entry to record the sale of the $40,000$ shares.

$($B$.)$ After the sale has been recorded, what is the balance in the investment account?

$($C$.)$ What percentage of Olivia Co$.$ stock does Pull own after selling the $40,000$ shares?

$($D$.)$ Because of the sale of stock, Pull can no longer exercise significant influence over the operations of Olivia. What effect will this have on Pull's accounting for the investment?

$($E$.)$ Prepare Pull's journal entries related to the investment for the rest of $2021.$