Chapman Company obtains 100 percent of Abernethy Company's stock on January 1, 2017. As of that date, Abernethy has the following trial balance: 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 Abernethy's common stock for $696, 650 in cash. As of January 1. 2017, Abernethy's land had a fair value of $124, 300, its buildings were valued at $200.000, and its equipment was appraised at $305750. 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.)