The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $6.10 per share on January 1, 2017. The remaining 20 percent of Devine's shares also traded actively at $6.10 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 $67,500 and a fully amortized trademark with an estimated 10-year remaining life had a $61,000 fair value. At the acquisition date, Devine reported common stock of $100,000 and a retained earnings balance of $149,500 Following are the separate financial statements for the year ending December 31, 2018: Devine, Inc. $ (350,250) 116,000 74,250 Sales Cost of goods sold Operating expenses Dividend income Net income Retained earnings, 1/1/18 Net incone (above) Dividends declared Retained earnings, 12/31/18 Current assets Investment in Devine, Inc Buildings and equipment (net) Trademarks Total assets Liabilities Common stock Retained earnings, 12/31/18 (above) Total liabilities and equities Holtz Corporation $ (708,000) 237,eee 311, eee (16,eee) $ (176,000) (736,000) (176,000) 90,000 $ (822,000) 3 139,000 488,000 892,eee 180,000 $ 1,699,000 $ (557,000) (320,000) (822,000) S (1,699,880) $ (160,000) $ (219,500) (160,000) 20.eee $ (359,500) $ 175,500 @ 350, eee 210,000 $ 735,500 $ (276,000) (180,000) (359,500 $(735,500) At year-end, there were no intra-entity receivables or payables, a. Prepare a worksheet to consolidate these two companies as of December 31, 2018 b. Prepare a 2018 consolidated income statement for Holtz and Devine c. If instead the noncontrolling interest shares of Devine had traded for $3.78 surrounding Holtz's acquisition date, what is the impact on goodwill