Chapman Company obtains 100 percent of Abernethy Companys stock on January 1, 2023. As of that date, Abernethy has the following trial balance:

Accounts	Debit	Credit
Accounts payable	-	$ 50,000
Accounts receivable	$ 40,000	-
Additional paid-in capital	-	50,000
Buildings (net) (4-year remaining life)	120,000	-
Cash and short-term investments	60,000	-
Common stock	-	250,000
Equipment (net) (5-year remaining life)	200,000	-
Inventory	90,000	-
Land	80,000	-
Long-term liabilities (mature 12/31/26)	-	150,000
Retained earnings, 1/1/23	-	100,000
Supplies	10,000	-
Totals	$ 600,000	$ 600,000

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 Abernethys common stock by paying $520,000 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.

Required:

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