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The following are selected account balances from Penske Company and Stanza Corporation as of December 31, 2021 Penske Revenues $ (746,000) Cost of goods sold

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The following are selected account balances from Penske Company and Stanza Corporation as of December 31, 2021 Penske Revenues $ (746,000) Cost of goods sold 266,100 Depreciation expense 201,600 Investment income Not given Dividends declared 30,000 Retained earnings, 1/1/21 (670,000) Current assets 434,000 Copyrights 984,000 Royalty agreements 688,000 Investment in Stanza Not given Liabilities (546,000) Common stock (600,000) ($20 par) Additional paid-in capital (150,000) Note: Parentheses indicate a credit balance Stanza $ (792,000) 198,000 318,000 e 60,000 (214,800) 560,000 537,500 1,130,000 (1,517,500) (200,000) ($10 par) (80,000) On January 1, 2021. Penske acquired all of Stanza's outstanding stock for $780,000 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 $592,000 book value but a fair value of $760,000. 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? c. As of December 31, 2021, what is the consolidated retained earnings balance? d. As of December 31, 2021, what is the consolidated balance to be reported for goodwill? Amounts a. b. Consolidated copyrights Consolidated net income Consolidated retained earnings Consolidated goodwill c d

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