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				$	57,700
Accounts receivable	$	45,000
Additional paid-in capital					50,000
Buildings (net) (4-year life)		124,000
Cash and short-term investments		68,250
Common stock					250,000
Equipment (net) (5-year life)		327,500
Inventory		103,000
Land		106,000
Long-term liabilities (mature 12/31/17)					183,500
Retained earnings, 1/1/14					252,350
Supplies		19,800
Totals	$	793,550		$	793,550

During 2014, Abernethy reported net income of $101,000 while declaring and paying dividends of $13,000. During 2015, Abernethy reported net income of $152,000 while declaring and paying dividends of $39,000.

Assume that Chapman Company acquired Abernethys common stock for $664,740 in cash. Assume that the equipment and long-term liabilities had fair values of $349,250 and $151,060, respectively, on the acquisition date. Chapman uses the initial value method to account for its 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.)