$\backslash$end$\{$tabular$\}\backslash$

$\backslash$hline & $$851,950$ & $$851,950\backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

During $2023,$ Abernethy reported net income of $$108,500$ while declaring and paying dividends of $$14,000.$ During $2024,$ Abernethy reported net income of $$139,750$ while declaring and paying dividends of $$54,000.$

Assume that Chapman Company acquired Abernethy's common stock for $$711,320$ in cash. Assume that the equipment and long$-$term liabilities had fair values of $$411,450$ and $$155,580,$ respectively, on the acquisition date. Chapman uses the initial value method to account for its 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.