Heidebrecht Design acquired30% of the outstanding common stock of Oriole Company on January 1, 2020, by paying $684,000for the45,600shares. Oriole declared and paid $0.60per share cash dividends on March 15, June 15, September 15, and December 15, 2020. Oriole reported net income of $356,000for the year. At December 31, 2020, the market price of Oriole common stock was $26per share.

Prepare the journal entries for Heidebrecht Design for 2020 assuming Heidebrecht Design cannot exercise significant influence over Oriole

Prepare the journal entries for Heidebrecht Design for 2020, assuming Heidebrecht Design can exercise significant influence over Oriole. Use the equity method.

Indicate the balance sheet and income statement account balances at December 31, 2020, under each method of accounting.