Prado, Inc. bought 30% of Heyward Company on January 1, 2010 for $270,000. The equity method was used. No amortization was required. In 2010, Heyward shipped to Prado merchandise with a cost of $18,000 and a selling price of $27,000. One-third of the merchandise remained in Prado's inventory at year-end and was sold in 2011. In 2011, Heyward received merchandise from Prado, who recorded a gross profit of $24,000 on the sale. One-fourth of the merchandise remained in ending inventory. Heyward reported net income of $60,000 in 2010 and $72,000 in 2011. Dividends of $7,200 were paid to Prado each year. Prepare all equity method entries for 2011. Prado, Inc. bought 30% of Heyward Company on January 1, 2010 for $270,000. The equity method was used. No amortization was required. In 2010, Heyward shipped to Prado merchandise with a cost of $18,000 and a selling price of $27,000. One-third of the merchandise remained in Prado's inventory at year-end and was sold in 2011. In 2011, Heyward received merchandise from Prado, who recorded a gross profit of $24,000 on the sale. One-fourth of the merchandise remained in ending inventory. Heyward reported net income of $60,000 in 2010 and $72,000 in 2011. Dividends of $7,200 were paid to Prado each year. Prepare all equity method entries for 2011