The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $7.60 per share on January 1, 2017. The remaining 20 percent of Devine's shares also traded atively at $7.60 per share before and after Holtz's acquisition. An except that a building with a 5-year future life was undervalued by $72,500 and a fully amortized trademark with an estimated 10 earnings balance of $348,500 appraisal made on that date determined that all book values appropriately reflected the fair values of Devine's underlying accounts year remaining life had a $77,000 fair value. At the acquisition date, Devine reported common stock of $100,000 and a retained Following are the separate financial statements for the year ending December 31, 2018 Holtz Corporation Devine, Inc. Sales Cost of goods sold Operating expenses Dividend income $ (614,000) (408,250) 174,000 122,250 216, 000 251,000 (16,000) Net income $ (163,000) (112,000) Retained earnings, 1/1/18 Net income (above) Dividends declared $ 712,000) (418,500) (163,000) (112,000) 20,000 $ (795, 000) (510, 500) $ 322,000 305, 500 80,000 Retained earnings, 12/31/18 Current assets Investment in Devine, Inc Buildings and equipment (net) Trademarks 608,000 710,000 189,000 436,000 142, 000 883, 500 1,829,000 Total assets Liabilities Common stock Retained earnings, 12/31/18 (above (714,000) $(273,000) (320,000) (100,000) (795,000) (510,500) Total liabilities and equities (1,829,000) (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, 2018. b. Prepare a 2018 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