Prepare the journal entries for Patterson Company for the following transactions.

April 8, 2020: Patterson Company acquires 10% of the 500,000 shares of common stock of Hubley Company at a cost of $12 per share.

July 10, 2020: Hubley Company declares and pays a $1.50 per share cash dividend.

September 23, 2020: Patterson Company sells 20,000 shares for a total of $300,000.

December 10, 2020: Hubley Company reports a net income of $575,000 for the year, and declares and pays a $2 per share cash dividend.