Problem 16-4A RCES Heidebrecht Design acquired 25% of the outstanding common stock of Quayle Company on January 1, 2017, by paying $742,500 for the 49,500 shares. Quayle declared and paid $0.20 per share cash dividends on March 15, June 15, September 15, and December 15, 2017. Quayle reported net income of $368,000 for the year. At December 31, 2017, the market price of Quayle common stock was $27 per share. oz 15 Prepare the journal entries for Heidebrecht Design for 2017 assuming Heidebrecht Design cannot exercise significant influence over Quayle.m (Use the cost method and assume that Quayle common stock should be classified as a trading security.) (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter 0 for the amounts.) tudy Date Account Titles and Explanation Debit Credit Jan. 1 Mar. 15 une 15 20 Sept. 15 Dec. 15 Dec. 31 17