Debit $ 45,000 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 $ 57,700 50,000 Buildings (net) (4-year remaining life) Cash and short-term investments 124,000 68,250 Common stock 250,000 Equipment (net) (5-year remaining life)) 327,500 Inventory 103,000 Land 106,000 Long-tere liabilities (nature 12/31/23) 183,500 Retained earnings, 1/1/20 252,350 Supplies Totals 19,800 $793,550 $ 793,550 During 2020, Abernethy reported net income of $101,000 while declaring and paying dividends of $13,000. During 2021. Abernethy reported net income of $152,000 while declaring and paying dividends of $39,000. Assume that Chapman Company acquired Abernethy's common stock for $696,650 in cash. As of January 1, 2020. Abernethy's land had a fair value of $124,300, its buildings were valued at $200,000, and its equipment was appraised at $305,750. 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 ransaction/vent, select "No journal entry required" in the first account field.) view transaction list transaction list