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

	Debit			Credit
Accounts payable				$	57,600
Accounts receivable	$	40,600
Additional paid-in capital					50,000
Buildings (net) (4-year remaining life)		126,000
Cash and short-term investments		65,750
Common stock					250,000
Equipment (net) (5-year remaining life)		390,000
Inventory		100,000
Land		110,000
Long-term liabilities (mature 12/31/23)					187,500
Retained earnings, 1/1/20					306,850
Supplies		19,600
Totals	$	851,950		$	851,950

During 2020, Abernethy reported net income of $108,500 while declaring and paying dividends of $14,000. During 2021, Abernethy reported net income of $139,750 while declaring and paying dividends of $54,000.

Assume that Chapman Company acquired Abernethys common stock by paying $814,850 in cash. All of Abernethys 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

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