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 $$103,500$ while declaring and paying dividends of $$13,000.$ During $2024,$ Abernethy

reported net income of $$145,250$ while declaring and paying dividends of $$47,000.$

Assume that Chapman Company acquired Abernethy's common stock by paying $$906,250$ in cash. All of Abernethy's accounts are

estimated to have a fair value approximately equal to present book values. Chapman uses the partial equity method to account for its

investment.

Required:

Prepare the 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.

$1.$Prepare entry S to eliminate stockholders' equity accounts of subsidiary.

$2.$Prepare entry A to recognize allocations attributed to specific accounts at acquisition date.

$3.$Prepare entry I to eliminate the subsidiary income accrual recognized by the parent.

$4.$Prepare entry D to eliminate intra$-$entity dividend transfers.

$5.$Prepare entry E to recognize $2023$ amortization expense.

$6.$Prepare entry $*$C to convert parent company figures to equity method.

$7.$Prepare entry S to eliminate stockholders' equity accounts of subsidiary for $2024.$

$8.$Prepare entry A to recognize allocations attributed to specific accounts at acquisition date.

$9.$Prepare entry I to eliminate the subsidiary income accrual recognized by the parent.

$10.$Prepare entry D to eliminate Intra$-$entity dividend transfers.

$11.$Prepare entry E to recognize $2024$ amortization expense.