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 $80,000 while declaring and paying dividends of $10,000. During 2021 , Abernethy reported net income of $110,000 while declaring and paying dividends of $30,000. Assume that Chapman Company acquired Abernethy's common stock for $520,000 in cash. All of Abernethy's accounts are estimated to have a fair value approximately equal to present book values. Chapman uses the partial equity method to account for its investment. Prepare consolidation worksheet entries for December 31,2020 , and December 31,2021. 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 $80,000 while declaring and paying dividends of $10,000. During 2021 , Abernethy reported net income of $110,000 while declaring and paying dividends of $30,000. Assume that Chapman Company acquired Abernethy's common stock for $520,000 in cash. All of Abernethy's accounts are estimated to have a fair value approximately equal to present book values. Chapman uses the partial equity method to account for its investment. Prepare consolidation worksheet entries for December 31,2020 , and December 31,2021