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The following are selected account balances from Penske Company and Stanza Corporation as of December 3 1 , 2 0 2 4 : Accounts Penske

The following are selected account balances from Penske Company and Stanza Corporation as of December 31,2024: Accounts Penske Revenues (845,000) Stanza (528,000) Cost of Goods Sold 300,750132,000 Depreciation Expense 160,000228,000 Investment Income Not Given Dividends Declared 80,00060,000 Retained Earnings ,1/1/24(614,000)(254,000) Current Assets 438,000552,000 Copyrights 920,000410,000 Royalty Agreements 634,0001,076,000 Investment in Stanza Liabilities Common Stock Additional Paid - in-Capital Not Given (532,000)(600,000)(150,000)(1,396,000)(200,000)(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 ) Stock Issuance Costs 829,00010,000 At the date of acquisition , copyrights ( with a six-year remaining life) have the following : Book Value Fair Value Required : 482,000602,000 Complete the allocation schedule and determine the following amounts as of December 31,2024 : a. Complete the allocation schedule b. What is the consolidated copyrights balance ?. What is the consolidated net income ? d. What is the consolidated retained earnings balance ? e. What is the consolidated balance for goodwill ?
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