The following are selected account balances from Penske Company and Stanza Corporation as of December 31, 2021: $ Stanza $ (520,000) 130,000 270,000 Revenues Cost of goods sold Depreciation expense Investment income Dividends declared Retained earnings, 1/1/21 Current assets Copyrights Royalty agreements Investment in Stanza Liabilities Common stock Additional paid-in capital Penske (796, 000) 283,600 156,000 Not given 80,000 (776,000) 496,000 946,000 762,000 Not given (500,000) (600,000) ($20 par) (150,000) 3 60,000 (376,000) 576,000 412,500 1,180,000 @ (1,452,500) (200,000) ($10 par) 80,000) Note: Parentheses indicate a credit balance. On January 1, 2021, Penske acquired all of Stanza's outstanding stock for $919,000 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 $480,000 book value but a fair value of $672,000. a. As of December 31, 2021, what is the consolidated copyrights balance? b. For the year ending December 31, 2021, what is consolidated net income