\[\frac{2^{x} \cdot 16}{2^{5}} = 8\]
\[\frac{2^{x} \cdot 2^{4}}{2^{5}} = 2^{3}\]
\[\frac{2^{x}}{2} = 2^{3}\]
\[2^{x} = 2^{4}\]
\[x = 4.\]