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				$	57,700
Accounts receivable	$	45,000
Additional paid-in capital					50,000
Buildings (net) (4-year remaining life)		124,000
Cash and short-term investments		68,250
Common stock					250,000
Equipment (net) (5-year remaining life)		327,500
Inventory		103,000
Land		106,000
Long-term liabilities (mature 12/31/20)					183,500
Retained earnings, 1/1/17					252,350
Supplies		19,800
Totals	$	793,550		$	793,550

During 2017, Abernethy reported net income of $101,000 while declaring and paying dividends of $13,000. During 2018, Abernethy reported net income of $152,000 while declaring and paying dividends of $39,000.

Assume that Chapman Company acquired Abernethys common stock for $696,650 in cash. As of January 1, 2017, Abernethys land had a fair value of $124,300, its buildings were valued at $200,000, and its equipment was appraised at $305,750. Chapman uses the equity method for this 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.)