Penske Company acquired all of Stanzas outstanding stock on December 31, 2018, for $580,000 cash. Stanzas accounting records showed net assets on that date of $390,000, although a piece of equipment with a 10-year remaining useful life was undervalued on the records by $80,000. Any recognized goodwill is considered to have an indefinite life. Penske used the equity method to account for the investment. Subsequent to the acquisition, Stanzas financial performance is following: Net Income Dividends paid Year 2019 45,000 15,000 Year 2020 60,000 18,000 Financial records from these two companies separate books as of December 31, 2020, are the following. Penske updated its accounts to record this investment and prepared its financial statements. Credit balances are indicated by parentheses. Please provide the consolidated totals for the cells with question marks in the consolidated financial statement as of December 31, 2020. Penske Stanza Consolidated Company Company Totals Income Statement Revenues (732,000) (140,000) Cost of goods sold 286,000 55,000 Amortization expense 20,000 10,000 ? Depreciation expense 80,000 15,000 ? Equity in subsidiary earnings (52,000) ? Net income (398,000) (60,000) ? Statement of Retained Earnings Retained Earnings, 1/1/2020 (1,200,000) (220,000) Net income (above) (398,000) (60,000) Dividends paid 60,000 18,000 Retained earnings, 12/31/2020 (1,538,000) (262,000) Balance Sheet Current assets 400,000 280,000 Investment in Stanza 636,000 - ? Equipment 750,000 120,000 ? Patented technology 170,000 80,000 ? Land 500,000 222,000 ? Goodwill - ? Total assets 2,456,000 702,000 Liabilities (318,000) (240,000) Common stock (600,000) (200,000) Retained earnings, 12/31/2020 (1,538,000) (262,000) ? ? Total liabilities and equities (2,456,000) (702,000)

What is consolidated Amortization expense?

2. Use the same information in Question 1. What is consolidated Depreciation expense?

3. Use the same information in Question 1. What is consolidated Equity in subsidiary earnings?

4. Use the same information in Question 1. What is consolidated Net income?

5. Use the same information in Question 1. What is consolidated Investment in Stanza?

6. Use the same information in Question 1. What is consolidated Equipment?

7. Use the same information in Question 1. What is consolidated Patented technology?

8. Use the same information in Question 1. What is consolidated Land?

9. Use the same information in Question 1. What is consolidated Goodwill?

10. Use the same information in Question 1. What is consolidated Retained earnings as of 12/31/2020?