Accounting for Intangible Assets Gaylord Research, Inc., has the following intangible assets:

1. Record the amortization expense for both of these intangible assets for 2009 assuming neither of the assets is impaired.
2. Prepare the intangible assets section of the balance sheet for Gaylord Research, Inc., as of December 31, 2009.

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Cost Date Purchased January 1, 2000 January 1, 2002 Expected Useful or Legal Life Unlimited 20 years Asset Goodwill Patent $ 16,000 136,000