The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $7.25 per share on January 1, 2020. The remaining 20 percent of Devine's shares also traded actively at $7.25 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 $78,000 and a fully amortized trademark with an estimated 10-year remaining life had a $65,000 fair value. At the acquisition date, Devine reported common stock of $100,000 and a retained earnings balance of $288,000. Following are the separate financial statements for the year ending December 31, 2021: