Chapman Company obtains 100 percent of Abernethy Companys stock on January 1, 2020. As of that date, Abernethy has the following trial balance:

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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Debit

$ 40,000

120,000 60,000

200,000 90,000 80,000

10,000 $600,000

Credit

$ 50,000 50,000

250,000

150,000 100,000

$600,000

Assume that Chapman Company acquired Abernethys common stock by paying $520,000 in cash. All of Abernethys accounts are estimated to have a fair value approximately equal to present book values. Chapman uses the partial equity method to account for its investment. Prepare the consolidation worksheet entries for December 31, 2020, and December 31, 2021. The amount of the total JE of (WPE).