152 Check my were Chapman Company obtains 100 percent of Abernethy Company's stock on January 1, 2020. As of that date, Abernethy has the following trial balance Accounts payable Debit Credit Accounts receivable $ 58,900 $ Additional paid-in capital 41,500 Buildings (net) (4-year remaining life) 50,000 Cash and short-term investments 211,000 Common stock 70,750 250,000 Equipment (net) (5-year remaining life) 430,000 Inventory 139,000 Land 121,500 Long-term liabilities (mature 12/31/23) 174,000 Retained earnings, 1/1/20 498,450 Supplies 17,600 Totals $1,031,350 $1,031,350 During 2020, Abernethy reported net income of $120,000 while declaring and paying dividends of $15,000. During 2021. Abernethy reported net income of $170,000 while declaring and paying dividends of $48,000, Assume that Chapman Company acquired Abernethy's common stock by paying $922.450 in cash. All of Abernethy's accounts are estimated to have a fair value approximately equal to present book values Chapman uses the partial equity method to account for its investment Prepare the consolidation worksheet entries for December 31, 2020, and December 31, 2021. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.)