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 $ 53,700 $ 41,000 50,000 184,000 77,250 250,000 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 400,000 117,500 107,500 173,000 417,450 16,900 $944,150 $ 944,150 During 2020, Abernethy reported net income of $98,000 while declaring and paying dividends of $12,000. During 2021, Abernethy reported net income of $128,250 while declaring and paying dividends of $39,000. Assume that Chapman Company acquired Abernethy's common stock for $825,690 in cash. Assume that the equipment and long- term liabilities had fair values of $422,400 and $139,760, respectively, on the acquisition date. Chapman uses the initial value method o account for its investment. Prepare consolidation worksheet entries for December 31, 2020, and December 31, 2021. (If no entry is required for a ransaction/event, select "No journal entry required" in the first account field.)