Debit $ 43,800 Chapman Company obtains 100 percent of Abernethy Company's stock on January 1, 2020. As of that date, Abernethy has the following trial balance: Accounts payable Accounts receivable Additional paid-in capital Credit $ 56,700 50,000 Buildings (net) (4-year remaining life) 143,000 Cash and short-term investments 80,250 Common stock 250,000 Equipment (net) (5-year remaining life) 295,000 Inventory 110,500 Land 112,000 Long-term liabilities (mature 12/31/23) Retained earnings, 1/1/20 171,000 268,750 Supplies Totals 11,900 $796,450 $ 796,450 During 2020, Abernethy reported net income of $122,500 while declaring and paying dividends of $15,000. During 2021, Abernethy reported net income of $159,250 while declaring and paying dividends of $49,000. Assume that Chapman Company acquired Abernethy's common stock by paying $744,750 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 the 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.) Answer is not complete. Not Date Accounts Debit Credit No 1 Date December 31, 202 Common stock-Abernethy Accounts Additional paid-in capital-Abernethy Retained earnings-Abernethy-1/1/20 Investment in Abernethy S Debit 250,000 Credit: 50,000 268,750 568,750 2 December 31, 202 Land 11,900 Buildings 76,400 Goodwill 81,500 Equipment 40,500x Investment in Abernethy 129,300 3 December 31, 202 Equity in subsidiary earnings 111,500 Investment in Abernethy 111,500 4 December 31, 202 Investment in Abernethy Dividends declared 15,000 15,000 5 December 31, 202 Depreciation expense 11,000 Equipment 8,100 Buildings 19,100 250,000 x 6 December 31, 202 Common stock-Abernethy Additional paid-in capital-Abernethy Retained earnings-Abernethy-1/1/21 50,000 376,250 676,250 Investment in Abernethy 7 December 31, 202 Land Buildings Goodwill 11,900 57,300x 81,500 Equipment Investment in Abernethy 32,400 118,300 8 December 31, 202 Ety in subsidiary earnings Investment in Abernethy 148,250 148,250 9 December 31, 202 Investment in Abernethy Dividends declared 49,000 49,000 10 December 31, 202 Depreciation expense 11,000 Equipment Buildings 8,100 19,100 11 December 31, 202 Depreciation expense Equipment Buildings