A LTI Launch X @Question 4 - Ch.3 Consolidations X G Angela Corporation (a private con x + X (@ https://ezto.mheducation.com/ext/map/index.html?_con=conexternal_browser=0launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252Fltiwrapper%252FltiaCloseWi... . . . Ch.3 Consolidations Ill Homework i Saved Help Save Exit Submit Check my work 4 G The following are selected account balances from Penske Company and Stanza Corporation as of December 31, 2024: W 10 Accounts Penske Stanza points Revenues $ (740, 000 $ (412, 090 y! Cost of goods sold 264,000 103, 000 Depreciation expense 182,000 224, 000 Investment income Not given eBook Dividends declared 80,000 60,000 Retained earnings, 1/1/24 (604, 000) (316, 000 Print Current assets 452,000 684,000 References Copyrights 902,000 453, 506 Royalty agreements 000'009 000'940'T in Investment in Stanza Not given Liabilities (508, 090 (1, 592, 500 Common stock ( ved oz$) (000'009) ( wed OI$ ) (000'002 ) Additional paid-in capital (150,000) (80,000) Note: Parentheses indicate a credit balance. HERE On January 1, 2024, Penske acquired all of Stanza's outstanding stock for $828,000 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 $548,000 book value but a fair value of $644,000. W Required: a. As of December 31, 2024, what is the consolidated copyrights balance? GW b. For the year ending December 31, 2024, what is consolidated net income? c. As of December 31, 2024, what is the consolidated retained earnings balance? d. As of December 31, 2024, what is the consolidated balance to be reported for goodwill? Amounts + Mc Graw Hill Temps to rise 11:19 PM Next Tuesday Q Search L ENG QU 10/19/2025