Chapman Company obtains 100 percent of Abernethy Company's stock on January 1, 2020. As of that date, Abernethy has the following trial balance: Accounts payable Accounts receivable Additional paid-in capital Buildings (net) (4-year remaining life) Cash and short-term investments Common stock Debit Credit $ 52,400 $ 48,600 50,000 179,000 61,250 250,000 Equipment (net) (5-year remaining life) Inventory 260,000 121,500 105,000 174,500 264,650 16,200 $791,550 $791,550 Land Long-term liabilities (mature 12/31/23) Retained earnings, 1/1/20 Supplies Totals During 2020, Abernethy reported net income of $86,000 while declaring and paying dividends of $11,000. During 2021, Abernethy reported net income of $124,500 while declaring and paying dividends of $47,000. Assume that Chapman Company acquired Abernethy's 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, 2020, and December 31, 2021. (Igno entry is required for a transaction/event, select "No journal entry required" in the first account field.)