Chapman Company obtains 100 percent of Abernethy Company's stock on January 1 , 2020. As of that date, Abernethy has the following trial balance: During 2020 , Abernethy reported net income of $122,500 while declaring and paying dividends of $15,000. During 2021 , Abernethy reported net income of $159,250 while declaring and paying dividends of $49,000. Assume that Chapman Company acquired Abernethy's common stock for $675,790 in cash. Assume that the equipment and long-term liabilities had fair values of $316,300 and $137,960, 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. (If no entry is required for a transaction/event, select "No journal entry required. in the first account field.)