Prepare a worksheet to consolidate these two companies as of December $31,2021.$

Prepare a $2021$ consolidated income statement for Holtz and Devine.

If instead the noncontrolling interest shares of Devine had traded for $$5\mathrm{.}46$ surrounding Holtz$$s acquisition date, what is the impact on goodwill?

The Holtz Corporation acquired $80$ percent of the $100,000$ outstanding voting shares of Devine, Inc., for $$7\mathrm{.}70$ per share on January $1,2020.$ The remaining $20$ percent of Devine$$s shares also traded actively at $$7\mathrm{.}70$ per share before and after Holtz$$s acquisition. An appraisal made on that date determined that all book values appropriately reflected the fair values of Devine$$s underlying accounts except that a building with a $5-$year future life was undervalued by $$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.$