The following are selected account balances from Penske Company and Stanza Corporation as of December 31, 2024:

Accounts	Penske	Stanza
Revenues	(888,000)	(400,000)
Cost of Goods Sold	315,800	100,000
Depreciation Expense	188,000	276,000
Investment Income	Not Given	0
Dividends Declared	80,000	60,000
Retained Earnings, 1/1/24	(642,000)	(304,000)
Current Assets	502,000	512,000
Copyrights	1,018,000	429,000
Royalty Agreements	680,000	1,094,000
Investment in Stanza	Not Given	0
Liabilities	(616,000)	(1,487,000)
Common Stock	(600,000)	(200,000)
Additional Paid-in-Capital	(150,000)	(80,000)

Note: Parentheses indicate a credit balance.

On January 1, 2024, Penske acquired all of Stanza's outstanding stock for:

Cash and Common Stock (fair value)	854,000
Stock Issuance Costs	10,000

At the date of acquisition, copyrights (with a six-year remaining life) have the following:

Book Value	478,000
Fair Value	544,000

Required:

Complete the allocation schedule and determine the following amounts as of December 31, 2024:

1. Complete the allocation schedule.

	Amounts	Remaining Life	Amortization
Stanza acquisition fair value
Book Value of Subsidiary
Fair value in excess of book value
Excess fair value allocated to copyrights based on fair value
Goodwill

1. What is the consolidated copyrights balance?

Penske (Book Value)
Stanza (Book Value)
Allocation (Above)
Excess Amortizations, 2024
Total

1. What is the consolidated net income?

Revenues
Cost of Goods Sold
Depreciation Expense
Excess Amortization
Consolidated Net Income

1. What is the consolidated retained earnings balance?

Retained Earnings, 1/1/24
Net Income
Dividends Declared
Total

1. What is the consolidated balance for goodwill?

Goodwill