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				$	50,500
Accounts receivable	$	44,100
Additional paid-in capital					50,000
Buildings (net) (4-year remaining life)		166,000
Cash and short-term investments		79,250
Common stock					250,000
Equipment (net) (5-year remaining life)		292,500
Inventory		100,500
Land		128,000
Long-term liabilities (mature 12/31/20)					188,000
Retained earnings, 1/1/17					288,850
Supplies		17,000
Totals	$	827,350		$	827,350

During 2017, Abernethy reported net income of $103,000 while declaring and paying dividends of $13,000. During 2018, Abernethy reported net income of $144,250 while declaring and paying dividends of $58,000.

Assume that Chapman Company acquired Abernethys common stock for $694,300 in cash. As of January 1, 2017, Abernethys land had a fair value of $142,700, its buildings were valued at $210,000, and its equipment was appraised at $264,000. 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.)