Chapman Company obtains 100 percent of Abernethy Companys stock on January 1, 2017. As of that date, Abernethy has the following trial balance:

	Debit			Credit
Accounts payable				$	58,000
Accounts receivable	$	40,200
Additional paid-in capital					50,000
Buildings (net) (4-year remaining life)		170,000
Cash and short-term investments		66,750
Common stock					250,000
Equipment (net) (5-year remaining life)		372,500
Inventory		109,500
Land		116,000
Long-term liabilities (mature 12/31/20)					165,000
Retained earnings, 1/1/17					369,150
Supplies		17,200
Totals	$	892,150		$	892,150

During 2017, Abernethy reported net income of $106,500 while declaring and paying dividends of $13,000. During 2018, Abernethy reported net income of $142,750 while declaring and paying dividends of $51,000.

Assume that Chapman Company acquired Abernethys common stock for $782,250 in cash. Assume that the equipment and long-term liabilities had fair values of $396,100 and $131,400, respectively, on the acquisition date. Chapman uses the initial value method to account for its 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.)