Chapman Company obtains 100 percent of Abernethy Companys stock on January 1, 2017. As of that date, Abernethy has the following trial balance:

	Debit			Credit
Accounts payable				$	54,200
Accounts receivable	$	42,900
Additional paid-in capital					50,000
Buildings (net) (4-year remaining life)		192,000
Cash and short-term investments		73,500
Common stock					250,000
Equipment (net) (5-year remaining life)		245,000
Inventory		99,000
Land		128,500
Long-term liabilities (mature 12/31/20)					160,000
Retained earnings, 1/1/17					279,200
Supplies		12,500
Totals	$	793,400		$	793,400

During 2017, Abernethy reported net income of $120,500 while declaring and paying dividends of $15,000. During 2018, Abernethy reported net income of $172,000 while declaring and paying dividends of $40,000.

Assume that Chapman Company acquired Abernethys common stock for $691,490 in cash. Assume that the equipment and long-term liabilities had fair values of $267,150 and $127,760, 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.