Heidi Design acquired 20% of the outstanding common stock of Quigly Company on January 1, 2014, by paying $800,000 for the 30,000 shares. Quigly declared and paid $0.30 per share cash dividends on March 15, June 15, September 15, and December 15, 2014. Quigly reported net income of $320,000 for the year. At December 31, 2014, the market price of Quigly common stock was $34 per share. Instructions (a) Prepare the journal entries for Heidi Design for 2014 assuming Heidi Design cannot exercise significant influence over Quigly. (Use the cost method and assume that Quigly common stock should be classified as a trading security). HINT: Total divident revenue $36,000 Solution Declaration of Dividend on 31st march2014 Declaration of Dividend on 30th  June 2014 Declaration of Dividend on 30th Sep 2014 Declaration of Dividend on 31st dec 2014 Dividend Amount = 30000x 0.03 = 9000 9000x3/12 = $2250 .