The Holtz Corporation acquired $80$ percent of the $100,000$ outstanding voting shares of Devine, Incorporated, for $$6\mathrm{.}35$ per share on January $1,2023.$ The remaining $20$ percent of Devine$$s shares also traded actively at $$6\mathrm{.}35$ per share before and after Holtz$$s acquisition. An appraisal made on that date determined that all book values appropriately reflected the fair values of Devine$$s underlying accounts except that a building with a $5-$year future life was undervalued by $$78,500$ and a fully amortized trademark with an estimated $10-$year remaining life had a $$59,000$ fair value. At the acquisition date, Devine reported common stock of $$100,000$ and a retained earnings balance of $$240,500.$

Following are the separate financial statements for the year ending December $31,2024$:

Accounts Holtz Corporation Devine, Incorporated

Sales $ $(721,000)$ $ $(321,500)$

Cost of goods sold $227,000108,000$

Operating expenses $296,000118,500$

Dividend income $(16,000)0$

Net income $ $(214,000)$ $ $(95,000)$

Retained earnings, $1/1/24$ $ $(765,000)$ $ $(310,500)$

Net income $($above$)(214,000)(95,000)$

Dividends declared $80,00020,000$

Retained earnings, $12/31/24$ $ $(899,000)$ $ $(385,500)$

Current assets $ $219,000$ $ $126,500$

Investment in Devine, Incorporated $508,0000$

Buildings and equipment $($net$)902,500344,000$

Trademarks $162,000242,000$

Total assets $ $1,791,500)$ $ $712,500$

Liabilities $ $(572,500)$ $ $(227,000)$

Common stock $(320,000)(100,000)$

Retained earnings, $12/31/24($above$)(899,000)(385,500)$

Total liabilities and equities $ $(1,791,500)$ $ $(712,500)$

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

Required:

Prepare a worksheet to consolidate these two companies as of December $31,2024.$

Prepare a $2024$ consolidated income statement for Holtz and Devine.

If instead the noncontrolling interest shares of Devine had traded for $$4\mathrm{.}78$ surrounding Holtz$$s acquisition date, what is the impact on goodwill?