This is for $7.70 per share... not $7.20

Thank you..

The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $7.70 per share on January 1, 2014. The remaining 20 percent of Devine's shares also traded actively at $7.70 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 life was undervalued by remaining life had a $75,000 fair value. At the acquisition date, Devine reported common stock of $100,000 and a retained earnings balance of $290,000 $81,000 and a fully amortized trademark with an estimated 10-year Following are the separate financial statements for the year ending December 31, 2015 HoltzDevine Corporation Inc. $ (760,000) $(365,250) Sales Cost of goods sold Operating expenses Dividend income 234,000 133,000 319,000 107,250 (16,000) Net income $ (223,000) $(125,000) Retained eamings, 1/1/15 Net income (above) Dividends declared $ (709,000) $(360,000) (223,000) (125,000) 90,00020,000 Retained earnings, 12/31/15 S (842,000) $(465,000) Current assets Investment in Devine, Inc Buildings and equipment (net) Trademarks s 166,000 $ 199,000 616,000 905,000389,000 160,000226,000 Total assets $1,847,000 $ 814,000 s (685,000 $249.000) Liabilities Common stock Retained eamings, 12/31/15 (above) (320,000) (100,000) (842,000) (465,000) Total liabilities and equities $(1,847,000) $(814,000) At year-end, there were no intra-entity receivables or payables