Chapman Company obtains 100 percent of Abernethy Companys stock on January 1, 2014. As of that date, Abernethy has the following trial balance:

	Debit			Credit
Accounts payable				$	55,800
Accounts receivable	$	42,500
Additional paid-in capital					50,000
Buildings (net) (4-year life)		209,000
Cash and short-term investments		67,250
Common stock					250,000
Equipment (net) (5-year life)		357,500
Inventory		136,000
Land		114,000
Long-term liabilities (mature 12/31/17)					168,500
Retained earnings, 1/1/14					414,650
Supplies		12,700
Totals	$	938,950		$	938,950

During 2014, Abernethy reported net income of $104,500 while declaring and paying dividends of $13,000. During 2015, Abernethy reported net income of $137,750 while declaring and paying dividends of $34,000.

Assume that Chapman Company acquired Abernethys common stock for $849,550 in cash. As of January 1, 2014, Abernethys land had a fair value of $128,300, its buildings were valued at $274,600, and its equipment was appraised at $334,750. Chapman uses the equity method for this investment.

Prepare consolidation worksheet entries for December 31, 2014, and December 31, 2015. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)