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

following trial balance:

During $2023,$ Abernethy reported net income of $$80,000$ while declaring and paying dividends of $$10,000.$ During $2024,$ Abernethy

reported net income of $$110,000$ while declaring and paying dividends of $$30,000.$

Assume that Chapman Company acquired Abernethy's common stock for $$490,000$ in cash. As of January $1,2023,$ Abernethy's land

had a fair value of $$90,000,$ its buildings were valued at $$160,000,$ and its equipment was appraised at $$180,000.$ Chapman uses the

equity method for this investment.

Required: $$

Prepare 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.