The holtz corporation acquired 80 percent of the 100,000 outstanding voting shares of devine, inc., for $7.40 per share on january 1, 2017. the remaining 20 percent of devine’s shares also traded actively at $7.40 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 $82,000 and a fully amortized trademark with an estimated 10-year remaining life had a $72,000 fair value. at the acquisition date, devine reported common stock of $100,000 and a retained earnings balance of $312,000.