Chapman Company obtains 100 percent of Abernethy Company's stock on January 1, 2020. As of that date. Abernethy has the following trial balance: Debit Credit Accounts payable Accounts receivable $ 52,800 Additional paid-in capital $ 49,500 Buildings (net) (4-year remaining life) 50,000 174,000 Cash and short-term investments 84,000 Common stock 250,000 Equipment (net) (5-year remaining life) 315,000 Inventory 137,500 Land 90,500 Long-term liabilities (mature 12/31/23) 188,500 Retained earnings, 1/1/20 323,600 Supplies 14,400 Totals $864,900 $864,900 During 2020, Abernethy reported net income of $129,000 while declaring and paying dividends of $16.000. During 2021, Abernethy reported net income of $176,000 while declaring and paying dividends of $38,000. Assume that Chapman Company acquired Abernethy's common stock by paying $768,600 in cash. All of Abernethy's 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. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Consolidation Worksheet Entries 2 3 4 5 6 7 8 11 Prepare entry *C to convert parent company figures to equity method. Note: Enter debits before credits. Accounts Debit Credit Date December 31, 2021 Record entry Clear entry view consolidation entries view transaction list Consolidation Worksheet Entries