The Holtz Corporation acquired $80$ percent of the $100,000$ outstanding voting shares of Devine, Incorporated, for $$6\mathrm{.}20$ per share on January $1,2023.$ The remaining $20$ percent of Devine$$s shares also traded actively at $$6\mathrm{.}20$ per share before and after Holtz$$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 $$147,000.\backslash$table$[[$HOLTZ CORPORATION AND DEVINE, INCORPORATED$],[$Consolidation Worksheet$],[$For Year Ending December $31,2024],[$Accounts$,\backslash$table$[[$Holtz$],[$Corporation$]],\backslash$table$[[$Devine$],[$Incorporated$]],$Consolidation Entries,$\backslash$table$[[$Noncontrolling$],[$Interest$]],\backslash$table$[[$Consolidated$],[$Totals$]]],[$Debit$,$Credit$],[$Sales$,$$$(774,000),$$$(315,500),,,,$$ $ $1,089,500],[$Cost of goods sold,$247,000,122,000,,,,369,000>],[$Operating expenses,$304,000,100,500,,,,],[$Dividend income,$(16,000),0,16,000>,,,0$o$.],[$Separate company net income,$$(239,000),$$$(93,000),,,,],[$Consolidated net income,,,,,,$],[$Net income attributable to noncontrolling interest,,,,,,$],[$Net income attributable to Holtz Corporation,,,,,,$],[$Retained earnings, $1/1/24,$$ $(721,000),$$$(217,000),,,,],[$Net income,$(239,000),(93,000),,,,],[$Dividends declared,$50,000,20,000,,,,],[$Retained earnings, $12/31/24,$$$(910,000),$$$(290,000),,,,],[$Current assets,$ $386,000,$$ $149,000,,,,],[$Investment in Devine, Incorporated,$496,000,0,,,,],[$Buildings and equipment $($net$),805,000,320,000,,,,],[$Trademarks$,163,000,203,000,,,,],[$Goodwill$,0,0,,,,],[$Total assets,$ $1,850,000,$$$672,000,,,,],[$Liabilities$,$$ $(620,000),$$$(282,000),,,,],[$Common stock,$(320,000),(100,000),,,,],[$Retained earnings, $12/31/24($above$),(910,000),(290,000),,,,],[$Noncontrolling interest in Devine, $1/1,,,,,,],[$Noncontrolling interest in Devine, $12/31,,,,,0,],[$Total liabilities and equities,$$(1,850,000),$$$(672,000),$$$16,000,5,0,,]]$

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

Accounts Holtz Corporation Devine, Incorporated

Sales $ $(774,000)$ $ $(315,500)$

Cost of goods sold $247,000122,000$

Operating expenses $304,000100,500$

Dividend income $(16,000)0$

Net income $ $(239,000)$ $ $(93,000)$

Retained earnings, $1/1/24$ $ $(721,000)$ $ $(217,000)$

Net income $($above$)(239,000)(93,000)$

Dividends declared $50,00020,000$

Retained earnings, $12/31/24$ $ $(910,000)$ $ $(290,000)$

Current assets $ $386,000$ $ $149,000$

Investment in Devine, Incorporated $496,0000$

Buildings and equipment $($net$)805,000320,000$

Trademarks $163,000203,000$

Total assets $ $1,850,000)$ $ $672,000$

Liabilities $ $(620,000)$ $ $(282,000)$

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

Retained earnings, $12/31/24($above$)(910,000)(290,000)$

Total liabilities and equities $ $(1,850,000)$ $ $(672,000)$

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 $$3\mathrm{.}85$ surrounding Holtz$$s acquisition date, what is the impact on goodwill?