The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $7.30 per share on January 1, 2020. The remaining 20 percent of Devines shares also traded actively at $7.30 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 $64,500 and a fully amortized trademark with an estimated 10-year remaining life had a $84,000 fair value. At the acquisition date, Devine reported common stock of $100,000 and a retained earnings balance of $333,500.

Following are the separate financial statements for the year ending December 31, 2021:

	Holtz Corporation				Devine, Inc.
Sales	$	(674,000	)		$	(340,250	)
Cost of goods sold		233,000				166,000
Operating expenses		275,000				83,250
Dividend income		(16,000	)			0
Net income	$	(182,000	)		$	(91,000	)
Retained earnings, 1/1/21	$	(783,000	)		$	(403,500	)
Net income (above)		(182,000	)			(91,000	)
Dividends declared		70,000				20,000
Retained earnings, 12/31/21	$	(895,000	)		$	(474,500	)
Current assets	$	301,000			$	196,500
Investment in Devine, Inc.		584,000				0
Buildings and equipment (net)		825,000				423,000
Trademarks		115,000				181,000
Total assets	$	1,825,000			$	800,500
Liabilities	$	(610,000	)		$	(226,000	)
Common stock		(320,000	)			(100,000	)
Retained earnings, 12/31/21 (above)		(895,000	)			(474,500	)
Total liabilities and equities	$	(1,825,000	)		$	(800,500	)

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.