View Policies Current Attempt in Progress Heidebrecht Design acquired 25% of the outstanding common stock of Sheridan Company on January 1, 2022, by paying $742.500 for the 49.500 shares. Sheridan declared and paid $20 per share cash dividends on March 15, June 15. September 15, and December 15, 2022. Sheridan reported net income of $368,000 for the year. At December 31, 2022, the market price of Sheridan common stock was 527 per share. (a) Prepare the journal entries for Heidebrecht Design for 2022 assuming Heidebrecht Design cannot excise significant influence over Sheridan (Use the cost method) (Record journal entries in the order presented in the problem. Ust all debit entries before condit entries. Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry required, select "No entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit > e Textbook and Media List of Accounts Attempts: 0 of 2 used Submit Answer Save for Later (b) Prepare the journal entries for Heidebrecht Design for 2022, assuming Heidebrecht Design can exercise significant influence over Sheridan (Use the equity method.) (Record Journal entries in the order presented in the problem. List all debit entries before credit entries. 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 for the amounts) Date Credit Debit Account Titles and Explanation e Textbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit Answer (c) Indicate the balance sheet and income statement account balances at December 31, 2022, under each method of accounting Cost Method Equity Method Stock Investments Dividend revenue Unrealized gain income Revenue from stock investments eTextbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit