Problem 3-19 (Algo) (LO 3-3a) 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 Accounts receivable Accounts payable Additional paid-in capital Buildings (net) (4-year remaining life) Credit $ 50,900 $ 40,400 50,000 128,000 Cash and short-term investments 68,750 Common stock 250,000 Equipment (net) (5-year remaining life) Inventory 407,500 119,000 Land 82,000 Long-term liabilities (mature 12/31/23) Retained earnings, 1/1/20 171,500 338,850 Supplies Totals 15,600 $861,250 $ 861,250 During 2020, Abernethy reported net income of $124,000 while declaring and paying dividends of $16,000. During 2021, Abernethy reported net income of $164,750 while declaring and paying dividends of $60,000. Assume that Chapman Company acquired Abernethy's common stock for $756,500 in cash. As of January 1, 2020, Abernethy's land had a fair value of $93,100, its buildings were valued at $194,800, and its equipment was appraised at $366,250. 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 transaction/event, select "No journal entry required" in the first account field.)