Chapman Company obtains 100 percent of Abernethy Companys stock on January 1, 2017. As of that date, Abernethy has the following trial balance:

	Debit			Credit
Accounts payable				$	58,900
Accounts receivable	$	41,500
Additional paid-in capital					50,000
Buildings (net) (4-year remaining life)		211,000
Cash and short-term investments		70,750
Common stock					250,000
Equipment (net) (5-year remaining life)		430,000
Inventory		139,000
Land		121,500
Long-term liabilities (mature 12/31/20)					174,000
Retained earnings, 1/1/17					498,450
Supplies		17,600
Totals	$	1,031,350		$	1,031,350

During 2017, Abernethy reported net income of $120,000 while declaring and paying dividends of $15,000. During 2018, Abernethy reported net income of $170,000 while declaring and paying dividends of $48,000.

Assume that Chapman Company acquired Abernethys common stock for $907,300 in cash. Assume that the equipment and long-term liabilities had fair values of $451,050 and $143,400, respectively, on the acquisition date. Chapman uses the initial value method to account for its investment.

Prepare consolidation worksheet entries for December 31, 2017, and December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)