Chapman Company obtains 100 percent of Abernethy Company's stock on January 1, 2020. As of that date, Abernethy has the following trial balance: Debit Accounts payable Accounts receivable Additional paid-in capital Buildings (net) (4-year remaining life) Credit $ 57,700 $ 45,000 50,000 124,000 Cash and short-term investments 68,250 Common stock 250,000 Equipment (net) (5-year remaining life) Inventory 327,500 103,000 Land 106,000 Long-term liabilities (mature 12/31/23) Retained earnings, 1/1/20 183,500 252,350 Supplies 19,800 Totals $793,550 $ 793,550 During 2020, Abernethy reported net income of $101,000 while declaring and paying dividends of $13,000. During 2021, Abernethy reported net income of $152,000 while declaring and paying dividends of $39,000. Assume that Chapman Company acquired Abernethy's common stock for $696,650 in cash. As of January 1, 2020, Abernethy's land had a fair value of $124,300, its buildings were valued at $200,000, and its equipment was appraised at $305,750. Chapman uses the equity method for this 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.)