Please complete Journal Entry # 8 asap. Thanks.

6 Chapman Company obtains 100 percent of Abernethy Company's stock on January 1, 2017. As of that date, Abernethy has the following trial balance 0.62 points Debit Credit $ 52,800 Accounts payable Accounts receivable Additional paid-in capital Buildings (net) (4-year remaining life) Cash and short-term investments Common stock Equipment (net) (5-year remaining life) Inventory Land Long-term liabilities (mature 12/31/20) Retained earnings, 1/1/17 Supplies $ 49,500 50,000 174,000 84,000 250,000 315,000 137,500 90,500 188,500 323,600 14,400 Totals $864,900 864,900 During 2017, Abernethy reported net income of $129,000 while declaring and paying dividends of $16,000. During 2018, Abernethy reported net income of $176,000 while declaring and paying dividends of $38,000 Assume that Chapman Company acquired Abernethy's common stock for $733,100 in cash. As of January 1, 2017, Abernethy's land had a fair value of $101,000, its buildings were valued at $242,000, and its equipment was appraised at $279,500. 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.) No Date Accounts Debit 250.000 ol 50,000 323.600 Credit December 31, 201 Common stock - Abernethy Additional paid-in capital Retained earnings 1/1/17 623,600 10,500 68,000 66.500 December 31. 2011 Land Buildings 35.500 Investment in Abernethy 109.500 December 31, 201| Equity in Subsidiary earnings 119,100 119,100 December 31, 201| Investment in Abernethy 16,000 Dividends declared 16,000 9,900 7,100 December 31, 201] Depreciation expense Equipment Buildings 17,000 250.000 50,000 436,600 December 31, 201 Common stock - Abernethy Additional paid-in capital Retained earnings 1/1/18 736,600 10,500 51,000 66,500 December 31. 201 Land Buildings 28,400 99,600 December 31, 201 Equity in Subsidiary earnings 168.900 e 168,900 December 31, 201 Investment in Abernethy 38,000 Dividends declared 38,000 9,900 7,100 10 December 31, 201 Depreciation expense Equipment Buildings 17.000