The Holtz Corporation acquired $80$ percent of the $100,000$ outstanding voting shares of Devine, Incorporated, for $$7\mathrm{.}60$ per share on

January $1,2023.$ The remaining $20$ percent of Devine's shares also traded actively at $$7\mathrm{.}60$ 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 $$72,500$ and a fully amortized trademark with

on estimated $10-$year remaining life had a $$77,000$ fair value. At the acquisition date, Devine reported common stock of $$100,000$ and a

retained earnings balance of $$348,500.$

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

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

Required:

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

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

c$.$ If instead the noncontrolling interest shares of Devine had traded for $$5\mathrm{.}98$ surrounding Holtz's acquisition date, what is the impact

on goodwill?

Complete this question by entering your answers in the tabs below.

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

Note: Enter all amounts as positive values.