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 57,600 $ $ 40,600 50,000 126,000 65,750 Accounts payable Accounts receivable Additional paid-in capital Buildings (net) (4-year remaining life) Cash and short-term investments Common stock Equipment (net) (5-year remaining life) Inventory Land Long-term liabilities (mature 12/31/23) Retained earnings, 1/1/20 Supplies Totals 250,000 x 390,000 100,000 110,000 187,500 306,850 ht 19,600 $851,950 S851,950 ences During 2020. Abernethy reported net income of $108,500 while declaring and paying dividends of $14.000. During 2021. Abernethy reported net income of $139.750 while declaring and paying dividends of $54,000. Assume that Chapman Company acquired Abernethy's common stock for $719,200 in cash. As of January 1, 2020, Abernethy's land had a fair value of $122700, its buildings were valued at $185,200, and its equipment was appraised at $353,250. Chapman uses the equity method for this investment. Prepare 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.) view transaction list Consolidation Worksheet Entries 2 3 8 12