The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Incorporated, for $6.00 per share on January 1, 2023. The remaining 20 percent of Devine's shares also traded actively at $6.00 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 $70,500 and a fully amortized trademark with an estimated 10-year remaining life had a $62,000 fair value. At the acquisition date, Devine reported common stock of $100,000 and a retained earnings balance of $158,500.

Following are the separate financial statements for the year ending December 31, 2024:

Accounts	Holtz Corporation	Devine, Incorporated
Sales	$ (731,000)	$ (316,000)
Cost of goods sold	276,000	149,000
Operating expenses	261,000	83,000
Dividend income	(16,000)	0
Net income	$ (210,000)	$ (84,000)
Retained earnings, 1/1/24	$ (748,000)	$ (228,500)
Net income (above)	(210,000)	(84,000)
Dividends declared	60,000	20,000
Retained earnings, 12/31/24	$ (898,000)	$ (292,500)
Current assets	$ 372,500	$ 170,500
Investment in Devine, Incorporated	480,000	0
Buildings and equipment (net)	720,000	324,000
Trademarks	193,000	153,000
Total assets	$ 1,765,500)	$ 647,500
Liabilities	$ (547,500)	$ (255,000)
Common stock	(320,000)	(100,000)
Retained earnings, 12/31/24 (above)	(898,000)	(292,500)
Total liabilities and equities	$ (1,765,500)	$ (647,500)

At year-end, there were no intra-entity receivables or payables.

Required:

Prepare a worksheet to consolidate these two companies as of December 31, 2024.

Prepare a 2024 consolidated income statement for Holtz and Devine.

If instead the noncontrolling interest shares of Devine had traded for $3.91 surrounding Holtz's acquisition date, what is the impact on goodwill?.