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				$	58,300
Accounts receivable	$	43,500
Additional paid-in capital					50,000
Buildings (net) (4-year remaining life)		210,000
Cash and short-term investments		83,250
Common stock					250,000
Equipment (net) (5-year remaining life)		417,500
Inventory		95,000
Land		103,000
Long-term liabilities (mature 12/31/20)					163,000
Retained earnings, 1/1/17					445,850
Supplies		14,900
Totals	$	967,150		$	967,150

During 2017, Abernethy reported net income of $122,000 while declaring and paying dividends of $15,000. During 2018, Abernethy reported net income of $175,000 while declaring and paying dividends of $55,000.

Assume that Chapman Company acquired Abernethys common stock for $877,650 in cash. As of January 1, 2017, Abernethys 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, 2017, and December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)