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(Solved) : Following Selected Account Balances Penske Company Stanza Corporation December 31 2018 Pen Q32707412 . . . .(Solved) : Following Selected Account Balances Penske Company Stanza Corporation December 31 2018 Pen Q32707412 . . . .
<p>Following are selected account balances from Penske Company andStanza Corporation as of December 31, 2018:</p>PenskeStanzaRevenues$(795,000)$(700,000)Cost of goodssold283,250175,000Depreciationexpense184,000302,000InvestmentincomeNot given0Dividendsdeclared80,00060,000Retainedearnings, 1/1/18(732,000)(268,000)Currentassets510,000668,000Copyrights1,072,000558,500Royaltyagreements722,0001,116,000Investment inStanzaNot given0Liabilities(562,000)(1,631,500)Commonstock(600,000)($20 par)(200,000)($10 par)Additionalpaid-in capital(150,000)(80,000)<p>Note: Parentheses indicate a credit balance.<br/></p><p>On January