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 $86,000 while declaring and paying dividends of $11,000. During 2021 , Abernethy reported net income of $124,500 while declaring and paying dividends of $47,000. Assume that Chapman Company acquired Abernethy's common stock for $691,000 in cash. As of January 1, 2020, Abernethy's land had a fair value of $118,100, its buildings were valued at $231,000, and its equipment was appraised at $239,000. 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 journal entry required" in the first account field.)