Problem 16-4A (part Level submission) Heidebrecht Design acquired 30% of the outstanding common stock of Quayle Company on January 1, 2014, by paying $834,000 for the 41,700 shares Quayle declared and paid $0.40 per share cash dividends on March 15, june 15, September 15, and December 15, 2014. Quayle reported net income of $304,000 for the year. At December 3i, 2014, the market price of Quayle common stock was s26 per share. v (a) Your answer is partially correct. Try again. prepare the journal entries for Heidebrecht Design for 2014 assuming Heidebrecht Design cannot exercise significant influence over Quayle. (Use the cost method and assume that Quayle common stock should be dassified as a trading security.) (Record journal entries in the order presented the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. uf no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation I Stock Investments 834000 250200 Fair Value Adjustment-Av 250200 Unrealized Gain-Incom Show SOLUTION