Chapman Company obtains 100 percent of Abernethy Company?s stock on January 1, 2014. As of that date, Abernethy has the following trial balance: (see attachment) During 2014, Abernethy reported net income of $122,000 while declaring and paying dividends of $15,000. During 2015, Abernethy reported net income of $175,000 while declaring and paying dividends of $55,000. Assume that Chapman Company acquired Abernethy?s common stock for $877,650 in cash. As of January 1, 2014, Abernethy?s land had a fair value of $116,200, its buildings were valued at $285,600, and its equipment was appraised at $391,750. Chapman uses the equity method for this investment. Prepare consolidation worksheet entries for December 31, 2014, and December 31, 2015.

During 2014, Abernethy reported net income of $122,000 while declaring and paying dividends of $15,000. During 2015, Abernethy reported net income of $175,000 while declaring and paying dividends of $55,000. Assume that Chapman Company acquired Abernethy's common stock for $877,650 in cash. As of January 1, 2014, Abernethy's land had a fair value of $116,200, its buildings were valued at $285,600, and its equipment was appraised at $391,750. Chapman uses the equity method for this investment. Prepare consolidation worksheet entries for December 31, 2014, and December 31, 2015. Are these correct? I need help with these