Chapman Company obtains 100 percent of Abernethy Company's stock on January 1, 2017. As of that date, Abernethy has the following trial balance: Credit $ 50,900 Debit Accounts payable Accounts receivable Additional paid-in capital Buildings (net) (4-year remaining life Cash and short-tern inves uent Common stock 40,400 50,000 128,000 68,750 250,000 Equipmene (net) (5-year renaining life 407,500 119,000 82,000 Land Long-term liabilities (nature 12/31/20) Retained earnings,1/1/1 Supplies 171,500 338,850 Totala $861,250 861,250 During 2017, Abernethy reported net income of $124,000 while declaring and paying dividends of $16,000. During 2018, Abernethy reported net income of $164,750 while declaring and paying dividends of $60,000. Assume that Chapman Company acquired Abernethy's common stock for $745,990 in cash. Assume that the equipment and long- term liabilities had fair values of $431,600 and $140,860, 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 t, select "No journal entry required" in the first account field.) view transaction list