What is the consolidated copyrights balance

Reference no: EM132676047

The following are selected account balarces from Penske Company and Stanza Corporation as of December 31. 2021:

Revenues y Cost of goods sold Depreciation expense Investment intent	Penske 4032,0001 296,200 222,000 Not given		Stanza $ (424.000) tes_seea isie.eee a
Dividends declared	80,090		60,000
Retained earnings, 1/1/21	(614,000)		(326,000)
Current assets	570,000		698.000
Copyrights	020,000		501,000
Royalty agreements	616,000		1.160.000
investment in Stanza	het given		0
Liabilities	(606.000)		(1,1185.001)
Canon stock	(600.000)	1520 Dan	(200,000)	(110 Par)
Mott tonal paid-in capital	(150,000)		(80,000)

Note. Parentheses indicate a credit balance On January 1. 2071. Penske acquired all of Stanza's outstanding stock for $874,000 fah value in cash paid Mow in stock issuance costs At the date of acquisition. copyrights (with a six-year remaining but a fair value of $700 000.

Problem 1: As of December 31. 2021. what is the consolidated copyrights balance?

Problem 2: For the year ending December 31. 2021. what is consolidated net income?

Problem 3: As of December 31. 2021. what is the consolidated retained eainings balance?

Problem 4: As of December 31 2021. what is the consoldated balance to be repelled for goodwill?

Reference no: EM132676047

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