Entries: 1- prepare entry S to eliminate stockholders equity accounts of subsidiary, 2- prepare entry A to recognize allocations in connection with acquisition date fair values, 3- prepare entry I to eliminate intra-entity dividends,4- prepare entry E to recognize 2020 amortization expense, 5- prepare entry *C to convert patent company figures to equity method,6- prepare entry S to eliminate stockholders equity accounts of subsidiary 2021. I really need entry 3-4 and 5.

Chapman Company obtains 100 percent of Abernethy Company's stock on January 1, 2020. As of that date, Abernethy has the following trial balance: Debit Credit Accounts payable 50, 800 Accounts receivable $ 48 200 Additional paid-in capital 50,090 Buildings (net) (4-year remaining life) 161,080 Cash and short-term investments 81, 750 Common stock 250, 060 Equipment (net) (5-year remaining life) 242,500 Inventory 135, 500 Land 129,500 Long-term liabilities (mature 12/31/23) 167,060 Retained earnings, 1/1/20 297, 350 Supplies 16,700 Totals $815, 150 $ 815, 156 During 2020, Abernethy reported net income of $90,000 while declaring and paying dividends of $11,000. During 2021, Abernethy reported net income of $134,750 while declaring and paying dividends of $34,000. Assume that Chapman Company acquired Abernethy's common stock for $699,660 in cash. Assume that the equipment and long- term liabilities had fair values of $264,550 and $136,840, respectively, on the acquisition date. Chapman uses the initial value meth to account for its 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.) view transaction list transaction list x Debit Credit 250,000 50,000 1 Prepare entry S to eliminate stockholders' equity accounts of subsidiary. 297 350 597.350 2 Prepare entry A to recognize allocations in connection with acquisition-date fair values. 140,700 3 Prepare entry I to eliminate intra-entity dividends. 140.700 4 Prepare entry E to recognize 2020 amortization expense. 90,000 5 Prepare entry "C to convert parent company figures to 90,000 equity method. 6 Drenare entry 5 to eliminate stockholders' entity 250.000