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 Credit $ 52,800 $ 49,500 50,000 174,000 84,000 250,000 Accounts payable Accounts receivable Additional paid-in capital Buildings (net) (4-year remaining life) Cash and short-term investments Common stock Equipment (net) (5-year remaining life) Inventory Land Long-term liabilities (mature 12/31/23) Retained earnings, 1/1/20 Supplies Totals 315,000 137,500 90,500 188,500 323,600 14,400 $864,900 $ 864,900 During 2020. Abernethy reported net income of $129.000 while declaring and paying dividends of $16.000. During 2021, Abemethy reported net income of $176,000 while declaring and paying dividends of $38,000. Assume that Chapman Company acquired Abernethy's common stock for $733,100 in cash. As of January 1, 2020. Abernethy's land had a fair value of $101.000, its buildings were valued at $242,000, and its equipment was appraised at $279,500. 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.) view transaction list transaction list No Date Accounts Debit Credit