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

	Debit			Credit
Accounts payable				$	57,700
Accounts receivable	$	45,000
Additional paid-in capital					50,000
Buildings (net) (4-year remaining life)		124,000
Cash and short-term investments		68,250
Common stock					250,000
Equipment (net) (5-year remaining life)		327,500
Inventory		103,000
Land		106,000
Long-term liabilities (mature 12/31/23)					183,500
Retained earnings, 1/1/20					252,350
Supplies		19,800
Totals	$	793,550		$	793,550

During 2020, Abernethy reported net income of $101,000 while declaring and paying dividends of $13,000. During 2021, Abernethy reported net income of $152,000 while declaring and paying dividends of $39,000.

Assume that Chapman Company acquired Abernethys common stock for $664,740 in cash. Assume that the equipment and long-term liabilities had fair values of $349,250 and $151,060, respectively, on the acquisition date. Chapman uses the initial value method to account for its investment.

Prepare consolidation worksheet entries for December 31, 2020, and December 31, 2021