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 $ 59,900 $ 43,700 50,000 123,000 Cash and short-term investments 80,500 Common stock 250,000 Equipment (net) (5-year remaining life) 270,000 Inventory 138,500 Land 118,500 Long-term liabilities (mature 12/31/23) 175,000 Retained earnings, 1/1/20 257,100 Supplies Totals 17,800 $792,000 $ 792,000 During 2020, Abernethy reported net income of $112.000 while declaring and paying dividends of $14,000. During 2021, Abernethy reported net income of $163.250 while declaring and paying dividends of $54,000. Assume that Chapman Company acquired Abernethy's common stock for $662,740 in cash. Assume that the equipment and long- term liabilities had fair values of $290,700 and $141,560, 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. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)