The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $6.45 per share on January 1, 2017. The remaining 20 percent of Devines shares also traded actively at $6.45 per share before and after Holtzs acquisition. An appraisal made on that date determined that all book values appropriately reflected the fair values of Devines underlying accounts except that a building with a 5-year future life was undervalued by $65,500 and a fully amortized trademark with an estimated 10-year remaining life had a $85,000 fair value. At the acquisition date, Devine reported common stock of $100,000 and a retained earnings balance of $224,500. Following are the separate financial statements for the year ending December 31, 2018: Holtz Corporation Devine, Inc. Sales $ (747,000 ) $ (432,750 ) Cost of goods sold 207,000 135,000 Operating expenses 338,000 126,750 Dividend income (16,000 ) 0 Net income $ (218,000 ) $ (171,000 ) Retained earnings, 1/1/18 $ (725,000 ) $ (294,500 ) Net income (above) (218,000 ) (171,000 ) Dividends declared 50,000 20,000 Retained earnings, 12/31/18 $ (893,000 ) $ (445,500 ) Current assets $ 167,000 $ 184,500 Investment in Devine, Inc 516,000 0 Buildings and equipment (net) 880,000 363,000 Trademarks 145,000 214,000 Total assets $ 1,708,000 $ 761,500 Liabilities $ (495,000 ) $ (216,000 ) Common stock (320,000 ) (100,000 ) Retained earnings, 12/31/18 (above) (893,000 ) (445,500 ) Total liabilities and equities $ (1,708,000 ) $ (761,500 ) At year-end, there were no intra-entity receivables or payables. Prepare a worksheet to consolidate these two companies as of December 31, 2018. Prepare a 2018 consolidated income statement for Holtz and Devine. If instead the noncontrolling interest shares of Devine had traded for $4.75 surrounding Holtzs acquisition date, what is the impact on goodwill?