Check my work Following are selected account balances from Penske Company and Stanza Corporation as of December 31, 2018: Pensk Stanza $ (568,000) Revenues Cost of goods sold Depreciation expense Investment income Dividends declared Retained earnings, 1/1/18 Cuzrent assets Copyrights Royalty agreements Investment in Stanza Liabilities Common stock Additional paid-in capital $ (842,000) 299,700 207,000 Not given 80,000 142,000 304,000 60,000 (222,000) 566,000 449,500 (668,000) 572,000 1,076,000 604,000 Not given (546,000) 1,180,000 (1,631,500) (600, 000) ($20 par) 200,000) ($10 par) (150, 000) (80,000) Note: Parentheses indicate a credit balance. On January 1, 2018, Penske acquired all of Stanza's outstanding stock for $755,000 fair value in cash and common stock. Penske also paid $10,000 in stock issuance costs. At the date of acquisition copyrights (with a six-year remaining life) have a $526,000 book value but a fair value of $724,000. a. As of December 31, 2018, what is the consolidated copyrights balance? b. For the year ending December 31, 2018, what is consolidated net income? c As of December 31, 2018, what is the consolidated retained earnings balance? d. As of December 31, 2018, what is the consolidated balance to be reported for goodwill? KPrey 3 of 13Next