Chapman Company obtains 100 percent of Abernethy Companys stock on January 1, 2020. As of that date, Abernethy has the following trial balance:

	Debit			Credit
Accounts payable				$	54,100
Accounts receivable	$	48,500
Additional paid-in capital					50,000
Buildings (net) (4-year remaining life)		130,000
Cash and short-term investments		66,000
Common stock					250,000
Equipment (net) (5-year remaining life)		437,500
Inventory		109,000
Land		89,000
Long-term liabilities (mature 12/31/23)					178,500
Retained earnings, 1/1/20					358,800
Supplies		11,400
Totals	$	891,400		$	891,400

During 2020, Abernethy reported net income of $126,000 while declaring and paying dividends of $16,000. During 2021, Abernethy reported net income of $174,000 while declaring and paying dividends of $49,000.

Assume that Chapman Company acquired Abernethys common stock for $765,230 in cash. Assume that the equipment and long-term liabilities had fair values of $458,150 and $145,220, 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.