Chapman Company obtains $100$ percent of Abernethy Company$$s stock on January $1,2023.$ As of that date, Abernethy has the following trial balance:

Items Debit Credit

Accounts payable $-$ $ $53,700$

Accounts receivable $ $41,000-$

Additional paid$-$in capital $-50,000$

Buildings $($net$)(4-$year remaining life$)184,000-$

Cash and short$-$term investments $77,250$

Common stock $-250,000$

Equipment $($net$)(5-$year remaining life$)400,000-$

Inventory $117,500-$

Land $107,500-$

Long$-$term liabilities $($mature $12/31/26)-173,000$

Retained earnings, $1/1/23-417,450$

Supplies $16,900-$

Totals $ $944,150$ $ $944,150$

During $2023,$ Abernethy reported net income of $$98,000$ while declaring and paying dividends of $$12,000.$ During $2024,$ Abernethy reported net income of $$128,250$ while declaring and paying dividends of $$39,000.$

Assume that Chapman Company acquired Abernethy$$s common stock by paying $$890,450$ 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.

Required:

Prepare the consolidation worksheet entries for December $31,2023,$ and December $31,2024.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.