please answer all parts
The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $6.20 per share on January 1, 2017. The remaining 20 percent of Devine's shares also traded actively at $6.20 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 future life was undervalued by $51,000 and a fully amortized trademark with an estimated 10-year remaining life had a $87.000 fair value. At the acquisition date, Devine reported common stock of $100.000 and a retained earnings balance of $147,000. Following are the separate financial statements for the year ending December 31, 2018: Devine, Inc. $ (315,500) 122.000 100,500 Sales Cost of goods sold Operating expenses Dividend income tiet Income Retained earnings, 1/1/18 Net income (above) Dividends declared Retained earnings, 12/31/18 Current assets Investment in Devine, Inc Buildings and equipment ne Trademarks Total assets Liabilities Common stock Holtz Corporation $ (774,000) 247,000 304,000 (16,000) $ (239,000) 5 (721,000) (239,000) 50.000 $ (910,000) 36,000 498.000 305,000 $ (93,000) 5 (217,000) (93,000) 20.000 $ (290,000) $ 149,000 $1,350,000 620,000 320,000) 20.000 205,000 672,000 $22.00) (100,000) Holtz Devine, Inc. (315,500) 122,000 100, 500 $ Sales Cost of goods sold Operating expenses Dividend income Net income Retained earnings, 1/1/18 Net Income (above) Dividends declared Retained earnings, 12/31/18 Current assets Investment in Devine, Inc Buildings and equipment (net) Trademarks Total assets Liabilities Comon stock Retained carnings, 12/31/18 (above) Total liabilities and equities 247,eee 304,000 16,000) (239,000) (721,000) (239,000) 50.000 1,000) 30 $ (93,000) $ (217,000) (93,000) 20.000 $ (290,000) $ 149,000 DOWN 3220 5.18338182 S 320.000 203,000 672,000 282,000) (100,000) (290.000) 672.000) 200) $ O At year-end, there were no intra-entity receivables or payables. o. Prepare a worksheet to consolidate these two companies as of December 31, 2018 b. Prepare a 2018 Consolidated income statement for Holtz and Devine C. instead the noncontrolling interest Shares of Devine nad traded for $3.85 surrounding Holtz's acquisition date what is the impact on goodwill Required A Required B Required C Prepare a worksheet to consolidate these two companies as of December 31, 2018. (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. Amounts in the Debit and Credit columns should be entered as positive. Negative amounts for the Noncontrolling Interest and Consolidated Totals columns should be entered with a minus sign.) Show less Accounts Noncontrolling Consolidated Interest Total Corporation Devine Inc. HOLTZ CORPORATION AND DEVINE, INC. Consolidation Worksheet For Year Ending December 31, 2018 Holtz Consolidation Entries Debit Credit $ 774000 $ 315.500) 247 000 122 000 304.000 100.500 (16,000) $ 239.000) $ 193.000) Sales Cost of goods sold Operating expenses Dividend Income Separate company net income Consolidated net income Ni attributable to noncontrolling interest Ni attributable to Holt Corp Complete this question by entering your answers in the tabs below. Required A Required B Required Prepare a 2018.consolidated income statement for Holtz and Devine. Enter all amounts as positive values.. HOLTZ CORPORATION AND DEVINE, INC. Consolidated Income Statement For Year Ending December 31, 2018 Total expenses To noncontrolling interest To Holtz Corporation Complete this question by entering your answers in the tabs below. Required A Required B Required C If instead the noncontrolling interest shares of Devine had traded for $3.85 surrounding Holtz's acquisition date, what is the impact on goodwill? Good
