Chapman Company obtains 100 percent of Abernethy Company's stock on January 1,2020 . As of that date, Abernethy has the following trial balance: 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 $651,550 in cash. As of January 1, 2020, Abernethy's land had a fair value of $132,100, its buildings were valued at $166,600, and its equipment was appraised at $242,750. 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 iournal entrv required" in the first account field.) Prepare entry C to convert parent's beginning retained earnings to full accrual basis. Note: Enter debits before credits. Consolidation Worksheet Entries Prepare entry S to eliminate stockholders' equity accounts of subsidiary. Note: Enter debits before credits. Consolidation Worksheet Entries Prepare entry A to recognize allocations attributed to fair value of specific accounts at acquisition date with residual fair value recognized as goodwill. Note: Enter debits before credits. Consolidation Worksheet Entries Prepare entry I to eliminate the income accrual for 2020 less the amortization recorded by the parent using the equity method. Note: Enter debits before credits. Consolidation Worksheet Entries C to convert parent's beginning retained earnings to full accrual basis. Note: Enter debits before credits. Consolidation Worksheet Entries Prepare entry S to eliminate stockholders' equity accounts of subsidiary for 2021. Note: Enter debits before credits. Consolidation Worksheet Entries Prepare entry A to recognize allocations attributed to specific accounts at acquisition date for 2021. Note: Enter debits before credits. Consolidation Worksheet Entries Consolidation Worksheet Entries 15 89 Prepare entry D to eliminate intra-entity dividend transfers. Note: Enter debits before credits. Consolidation Worksheet Entries Prepare entry E to recognize current year amortization expense. Note: Enter debits before credits