Please show all work and journal entries.

1.) Prepare entry *C to convert parents beginning retained earnings to full accrual basis.

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

3.) Prepare entry A to recognize allocations attributed to fair value of specific accounts at acquisition date with residual fair value recognized as goodwill.

4.) Prepare entry I to eliminate the income accrual for 2020 less the amortization recorded by the parent using the equity method.

5.) Prepare entry D to eliminate intra-entity dividend transfers.

6.) Prepare entry E to recognize current year amortization expense.

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

8.) Prepare entry S to eliminate stockholders' equity accounts of subsidiary for 2021.

9.) Prepare entry A to recognize allocations attributed to specific accounts at acquisition date for 2021.

10.) Prepare entry I to eliminate the income accrual for 2021 less the amortization recorded by the parent using the equity method.

11.) Prepare entry D to eliminate intra-entity dividend transfers.

12.) Prepare entry E to recognize current year amortization expense.

Chapman Company obtains 100 percent of Abernethy Company's stock on January 1, 2020. As of that date, Abernethy has the following trial balance: 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 $694,850 in cash. As of January 1, 2020, Abernethy's land had a fair value of $140,700, its buildings were valued at $201,800, and its equipment was appraised at $217,250. 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.)