**Identify and calculate the four noncontrolling interest figures that must be included within the consolidation process and prepare a consolidation worksheet in the presence of noncontrolling interest. Determine the effect on consolidated financial statements of a control premium paid by the parent. Identify appropriate placements for the components of the noncontrolling interest in consolidated financial statements.

The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $7.70 per share on January 1, 2014. The remaining 20 percent of Devine’s shares also traded actively at $7.70 per share before and after Holtz’s acquisition. An appraisal made on that date determined that all book values appropriately reflected the fair values of Devine’s underlying accounts except that a building with a 5-year life was undervalued by $81,000 and a fully amortized trademark with an estimated 10-year remaining life had a $75,000 fair value. At the acquisition date, Devine reported common stock of $100,000 and a retained earnings balance of $290,000.

Following are the separate financial statements for the year ending December 31, 2015:

		Holtz Corporation				Devine, Inc.
Sales		$	(760,000	)		$	(365,250	)
Cost of goods sold			234,000				133,000
Operating expenses			319,000				107,250
Dividend income			(16,000	)			0
Net income		$	(223,000	)		$	(125,000	)
Retained earnings, 1/1/15		$	(709,000	)		$	(360,000	)
Net income (above)			(223,000	)			(125,000	)
Dividends declared			90,000				20,000
Retained earnings, 12/31/15		$	(842,000	)		$	(465,000	)
Current assets		$	166,000			$	199,000
Investment in Devine, Inc			616,000				0
Buildings and equipment (net)			905,000				389,000
Trademarks			160,000				226,000
Total assets		$	1,847,000			$	814,000
Liabilities		$	(685,000	)		$	(249,000	)
Common stock			(320,000	)			(100,000	)
Retained earnings, 12/31/15 (above)			(842,000	)			(465,000	)
Total liabilities and equities		$	(1,847,000	)		$	(814,000	)

At year-end, there were no intra-entity receivables or payables.

Prepare a worksheet to consolidate these two companies as of December 31, 2015. (For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.)

b.

Prepare a 2015 consolidated income statement for Holtz and Devine. (Enter all amounts as positive values.)

c.	If instead the noncontrolling interest shares of Devine had traded for $5.46 surrounding Holtz’s acquisition date, what is the impact on goodwill?