Chapman Company obtains 100 percent of Abernethy Company's stock on January 1, 2017. As of that date, Abernethy has the ollowing trial balance: Credit 56,700 Debit Accounts payable Accoutts receivable 43,800 50,000 dditional paid-in capital Baildinge (net) (4-year resaining life) Cash and short-tern investnests Common stock 143,000 80,250 250,000 Equipment (set) (5-year reaining lite Inventory Land 295,000 110,500 112,000 Long-term liabilities (nature 12/31/20) Retained earaings, 1/1/17 Supplies 171,000 268,750 11 900 $796,450 Totals 796,450 During 2017, Abernethy reported net income of $122,500 while declaring and paying dividends of $15,000. During 2018, Abernethy reported net income of $159,250 whille declaring and paying dividends of $49,000 Assume that Chapman Company acquired Abernethy's common stock for $698,050 in cash. As of January 1, 2017, Abernethy's land had a fair value of $123,900, ins buildings were valued at $219,400, and its equipment was appraised at $254,500. 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 fleld.) view transaction list Consolidation Worksheet Entries 9 10 Prepare entry S to eliminate stockholders' equity accounts of subsidiany December 31, 2017 Debit Credit cord entry Clear entry iew