The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $760 per share on January 1, 2020. The remaining 20 percent of Devine's shares also traded actively at $760 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 an 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, 2021: Sales Cont of goods sold Operating expenses Dividend Income Net income Retained earnings, 1/1/21 Net income (above) Dividends declared Retained earnings, 12/31/21 Current assets Investment in Devine, Inc. Buildings and equipment (net) Trademarks Total asset Liabilities Common stock Retained earnings, 12/31/21 (above) Total liabilities and equities Holta Corporation $ (614,000) 216,000 251,000 (16.000) $ (163,000) 6 (712,000) (163,000) 80,000 $(795,000) $ 322,000 608,000 710,000 189.000 $ 1,829,000 5 (714,000) (320,000) (795,000 $(1,829,000) Devine, Inc. $(408,250) 174,000 122,250 0 $(112,000) $(418,500) (112,000) 20.000 $(510,500) $ 305,500 O 436,000 142,000 $ 883,500 5 (273,000) (100,000) (510,500) $(883,500) At year-end, there were no intra-entity receivables or payables, a. Prepare a worksheet to consolidate these two companies as of December 31, 2021. b. Prepare a 2021 consolidated income statement for Holtz and Devine. c. If instead the noncontrolling interest shares of Devine had traded for $5.98 surrounding Holtz's acquisition date, what is the impact on goodwill? Check my wo Required A Required a Required Prepare a worksheet to consolidate these two companies as of December 31, 2021. (For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Input all amounts as positive values.) Accounts Noncontrolling Consolidated Interest Totals HOLTZ CORPORATION AND DEVINE, INC. Consolidation Worksheet For Your Ending Decomber 31, 2021 Holtz Consolidation Entries Devine Inc Corporation Debit Credit $ (614.000) S (408.250) 216,000 174,000 251.000 122.250 (16,000) 0 $ (163.000) $ (112.000) Sales Cost of goods sold Operating expenses Dividend Income Separate company net income Consolidated net income Ni attributable to noncontrolling interest Ni attributable to Holtz Corp Retained earnings, 1/1121 Niet income Dividends declared Retained earnings, 12/31/21 5 (712.000) $ (418,500) (163,000) (112,000) 80,000 20,000 5 (795,000) $ (550,500) s Current asset Investment in Devine, Inc 322.000 5305,500 308,000 0 Cost of goods sold Operating expenses Dividend income Separate company net income Consolidated net income Ni attributable to noncontrolling interest Ni attributable to Holtz Corp. 216,000 174.000 251,000 122,250 (16,000) 0 $ (163,000) $ (112,000) Retained earings, 11/21 Net income Dividends declared Retained earnings, 12/31/21 $ (712,000) $ (418,500) (163,000) (112,000) 80.000 20,000 $ 795,000) S (510,500) Current assets Investment in Devine, Inc Buildings and equipment (net) Trademarks Goodwill Total assets $ 322,000 $ 305,500 608,000 0 710,000 436,000 189,000 142,000 0 0 $ 1,829,000 $ 883,500 Liabilities $(714,000) S (273,000) (320,000) (100,000) (795,000) (510,500) Common stock Retained earnings, 12/31/21 (above) NCI in Devino, 1/1 NCI in Devine, 12/31 Total liabilities and equities $(1,829,000) $ (883,500) on goodwill? Complete this question by entering your answers in the tabs below. Required a Required Required Prepare a 2021 consolidated income statement for Holtz and Devine Bera 2 positive values HOLTZ CORPORATION AND DEVINE, INC. Consolidated Income Statement For Year Ending December 31, 2021 Total To non controlling interest To Hotz Comportion Complete this question by entering your answers in the tabs below. Required A Required B Required if instead the noncontrolling Interest shares of Devine had traded for $5.98 surrounding Holtz's acquisition date, what is the impact on goodwill? Goodw