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 $$124,000$ while declaring and paying dividends of $$16,000.$ During $2024,$ Abernethy

reported net income of $$164,750$ while declaring and paying dividends of $$60,000.$

Assume that Chapman Company acquired Abernethy's common stock for $$745,990$ in cash. Assume that the equipment and long$-$

term liabilities had fair values of $$431,600$ and $$140,860,$ respectively, on the acquisition date. Chapman uses the initial value method

to account for its investment.

Required:

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