Prepare consolidation worksheet entries for December $31,2023,$ and December $31,2024.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Prepare entry $*$C to convert parent's beginning retained earnings to full accrual basis.

Prepare entry S to eliminate stockholders' equity accounts of subsidiary.

Prepare entry A to recognize allocations attributed to specific accounts at acquisition date.

Prepare entry I to eliminate the subsidiary income accrual recognized by the parent.

Prepare entry D to eliminate intra$-$entity dividend transfers.

Prepare entry E to recognize current year amortization expense.

Prepare entry $*$C to convert parent's beginning retained earnings to full accrual basis.

Prepare entry S to eliminate stockholders' equity accounts of subsidiary for $2024.$

Prepare entry A to recognize allocations attributed to specific accounts at acquisition date for $2024.$

Prepare entry I to eliminate the subsidiary income accrual recognized by the parent.

Prepare entry D to eliminate intra$-$entity dividend transfers.

Prepare entry E to recognize current year amortization expense.

Chapman Company obtains $100$ percent of Abernethy Company's stock on January $1,2023.$ As of that date, Abernethy has the

following trial balance:

During $2023,$ Abernethy reported net income of $$117,500$ while declaring and paying dividends of $$15,000.$ During $2024,$

Abernethy reported net income of $$171,250$ while declaring and paying dividends of $$55,000.$

Assume that Chapman Company acquired Abernethy's common stock for $$860,500$ in cash. As of January $1,2023,$

Abernethy's land had a fair value of $$132,000,$ its buildings were valued at $$287,600,$ and its equipment was apraised at

$$352,500.$ Chapman uses the equity method for this investment.

Required:

Prepare consolidation worksheet entries for December $31,2023,$ and December $31,2024.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.