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				$	52,400
Accounts receivable	$	48,600
Additional paid-in capital					50,000
Buildings (net) (4-year remaining life)		179,000
Cash and short-term investments		61,250
Common stock					250,000
Equipment (net) (5-year remaining life)		260,000
Inventory		121,500
Land		105,000
Long-term liabilities (mature 12/31/20)					174,500
Retained earnings, 1/1/17					264,650
Supplies		16,200
Totals	$	791,550		$	791,550

During 2017, Abernethy reported net income of $86,000 while declaring and paying dividends of $11,000. During 2018, Abernethy reported net income of $124,500 while declaring and paying dividends of $47,000.

Assume that Chapman Company acquired Abernethys common stock for $675,160 in cash. Assume that the equipment and long-term liabilities had fair values of $284,350 and $142,140, 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.