he Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $6.00 per share on January 1, 2017. The remaining 20 percent of Devines shares also traded actively at $6.00 per share before and after Holtzs acquisition. An appraisal made on that date determined that all book values appropriately reflected the fair values of Devines underlying accounts except that a building with a 5-year future life was undervalued by $70,500 and a fully amortized trademark with an estimated 10-year remaining life had a $62,000 fair value. At the acquisition date, Devine reported common stock of $100,000 and a retained earnings balance of $158,500. Following are the separate financial statements for the year ending December 31, 2018: Holtz Corporation Devine, Inc. Sales $ (731,000 ) $ (316,000 ) Cost of goods sold 276,000 149,000 Operating expenses 261,000 83,000 Dividend income (16,000 ) 0 Net income $ (210,000 ) $ (84,000 ) Retained earnings, 1/1/18 $ (748,000 ) $ (228,500 ) Net income (above) (210,000 ) (84,000 ) Dividends declared 60,000 20,000 Retained earnings, 12/31/18 $ (898,000 ) $ (292,500 ) Current assets $ 372,500 $ 170,500 Investment in Devine, Inc 480,000 0 Buildings and equipment (net) 720,000 324,000 Trademarks 193,000 153,000 Total assets $ 1,765,500 $ 647,500 Liabilities $ (547,500 ) $ (255,000 ) Common stock (320,000 ) (100,000 ) Retained earnings, 12/31/18 (above) (898,000 ) (292,500 ) Total liabilities and equities $ (1,765,500 ) $ (647,500 ) At year-end, there were no intra-entity receivables or payables. Prepare a worksheet to consolidate these two companies as of December 31, 2018. Prepare a 2018 consolidated income statement for Holtz and Devine. If instead the noncontrolling interest shares of Devine had traded for $3.91 surrounding Holtzs acquisition date, what is the impact on goodwill?