The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $6.55 per share on January 1, 2020. The remaining 20 percent of Devine's shares also traded actively at $6.55 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 $59,500 and a fully amortized trademark with an estimated 10-year remaining life had a $66,000 fair value. At the acquisition date, Devine reported common stock of $100,000 and a retained earnings balance of $194,500. Following are the separate financial statements for the year ending December 31, 2021: 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 $4.20 surrounding Holtz's acquisition date, what is the impact on goodwill? \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{ Consolidation Worksheet } \\ \hline \multicolumn{7}{|c|}{ For Year Ending December 31, 2021} \\ \hline \multirow{2}{*}{ Accounts } & \multirow{2}{*}{\begin{tabular}{c} Holtz \\ Corporation \end{tabular}} & \multirow{2}{*}{ Devine Inc. } & \multicolumn{2}{|c|}{ Consolidation Entries } & \multirow{2}{*}{\begin{tabular}{l} Noncontrolling \\ Interest \end{tabular}} & \multirow{2}{*}{\begin{tabular}{c} Consolidated \\ Totals \end{tabular}} \\ \hline & & & Debit & Credit & & \\ \hline Sales & $(704,000) & $(439,000) & & & & \\ \hline Cost of goods sold & 260,000 & 171,000 & & & & \\ \hline Operating expenses & 249,000 & 120,000 & & & & \\ \hline Dividend income & (16,000) & 0 & & & & \\ \hline Separate company net income & $(211,000) & $(148,000) & & & & \\ \hline \multicolumn{7}{|l|}{ Consolidated net income } \\ \hline \multicolumn{7}{|l|}{Nl attributable to noncontrolling interest } \\ \hline \multicolumn{7}{|l|}{Nl attributable to Holtz Corp. } \\ \hline Retained earnings, 1/1/21 & $(735,000) & $(264,500) & & & & \\ \hline Net income & (211,000) & (148,000) & & & & \\ \hline Dividends declared & 70,000 & 20,000 & & & & \\ \hline Retained earnings, 12/31/21 & $(876,000) & $(392,500) & & & & \\ \hline Current assets & $194,500 & $201,500 & & & & \\ \hline Investment in Devine, Inc. & 524,000 & 0 & & & & \\ \hline Buildings and equipment (net) & 837,500 & 332,000 & & & & \\ \hline Trademarks & 150,000 & 159,000 & & & & \\ \hline Goodwill & 0 & 0 & & & & \\ \hline Total assets & $1,706,000 & $692,500 & & & & \\ \hline Liabilities & $(510,000) & $(200,000) & & & & \\ \hline Common stock & (320,000) & (100,000) & & & & \\ \hline Retained earnings, 12/31/21 (above) & (876,000) & (392,500) & & & & \\ \hline \multicolumn{7}{|l|}{NCl in Devine, 1/1} \\ \hline \multicolumn{7}{|l|}{NCl in Devine, 12/31} \\ \hline Total liabilities and equities & $(1,706,000) & $(692,500) & & & & \\ \hline \end{tabular} Prepare a 2021 consolidated income statement for Holtz and Devine. (Enter all amounts as positive values.) If instead the noncontrolling interest shares of Devine had traded for $4.20 surrounding Holtz's acquisition date, what is the impact on goodwill