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				$	59,900
Accounts receivable	$	43,700
Additional paid-in capital					50,000
Buildings (net) (4-year remaining life)		123,000
Cash and short-term investments		80,500
Common stock					250,000
Equipment (net) (5-year remaining life)		270,000
Inventory		138,500
Land		118,500
Long-term liabilities (mature 12/31/20)					175,000
Retained earnings, 1/1/17					257,100
Supplies		17,800
Totals	$	792,000		$	792,000

During 2017, Abernethy reported net income of $112,000 while declaring and paying dividends of $14,000. During 2018, Abernethy reported net income of $163,250 while declaring and paying dividends of $54,000.

Assume that Chapman Company acquired Abernethys common stock for $662,740 in cash. Assume that the equipment and long-term liabilities had fair values of $290,700 and $141,560, 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.