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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)
tesseea 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?
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