8. (10 points) Bonneau Co. purchased 20,000 shares of Baker Corporation's 60,000 shares of common stock on January 1. On October 11, Baker declared and paid cash dividends of $30,000 in total. On December 31, Baker reported net income of $600,000 for the year. Prepare the journal entries Bonneau Co. should record to account for the dividends received and the earnings reported by Baker Corporation. Date Debit Credit