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				$	54,100
Accounts receivable	$	48,500
Additional paid-in capital					50,000
Buildings (net) (4-year remaining life)		130,000
Cash and short-term investments		66,000
Common stock					250,000
Equipment (net) (5-year remaining life)		437,500
Inventory		109,000
Land		89,000
Long-term liabilities (mature 12/31/20)					178,500
Retained earnings, 1/1/17					358,800
Supplies		11,400
Totals	$	891,400		$	891,400

During 2017, Abernethy reported net income of $126,000 while declaring and paying dividends of $16,000. During 2018, Abernethy reported net income of $174,000 while declaring and paying dividends of $49,000.

Assume that Chapman Company acquired Abernethys common stock for $773,550 in cash. As of January 1, 2017, Abernethys land had a fair value of $104,200, its buildings were valued at $208,800, and its equipment was appraised at $396,500. 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 field.)