Chapman Company obtains $100$ percent of Abernethy Company's stock on January $1,2020.$ As of that date, Abernethy has the following trial balance:

During $2020,$ Abernethy reported net income of $$80,000$ while declaring and paying dividends of $$10,000.$ During $2021,$ 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 $$490,000$ in cash. As of January $1,2020,$ Abernethy's land had a fair value of $$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. Prepare consolidation worksheet entries for December $31,2020,$ and December $3$I,