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

Accounts Penske Stanza

Revenues $(832,000)(668,000)$

Cost of Goods Sold $296,200167,000$

Depreciation Expense $202,000306,000$

Investment Income Not Given $0$

Dividends Declared $80,00060,000$

Retained Earnings, $1/1/24(768,000)(272,000)$

Current Assets $468,000622,000$

Copyrights $916,000587,000$

Royalty Agreements $704,0001,058,000$

Investment in Stanza Not Given $0$

Liabilities $(582,000)(1,580,000)$

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$)791,000$

Stock Issuance Costs $10,000$

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

Book Value $638,000$

Fair Value $710,000$

Required:

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

Complete the allocation schedule.

What is the consolidated copyrights balance?

What is the consolidated net income?

What is the consolidated retained earnings balance?

What is the consolidated balance for goodwill?

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