Chapman Company obtains 100 percent of Abernethy Companys stock on January 1, 2014. As of that date, Abernethy has the following trial balance:

	Debit			Credit
Accounts payable				$	53,700
Accounts receivable	$	41,000
Additional paid-in capital					50,000
Buildings (net) (4-year life)		184,000
Cash and short-term investments		77,250
Common stock					250,000
Equipment (net) (5-year life)		400,000
Inventory		117,500
Land		107,500
Long-term liabilities (mature 12/31/17)					173,000
Retained earnings, 1/1/14					417,450
Supplies		16,900
Totals	$	944,150		$	944,150

During 2014, Abernethy reported net income of $98,000 while declaring and paying dividends of $12,000. During 2015, Abernethy reported net income of $128,250 while declaring and paying dividends of $39,000.

Assume that Chapman Company acquired Abernethys common stock for $851,300 in cash. As of January 1, 2014, Abernethys land had a fair value of $124,200, its buildings were valued at $254,400, and its equipment was appraised at $378,500. Chapman uses the equity method for this investment.

Prepare consolidation worksheet entries for December 31, 2014, and December 31, 2015.