1.Flint Corporation purchases a patent from Tamarisk Inc. on July 1, 2017, for $274,000. The patent has a remaining legal life of 9 years. Flint estimates the patent will have a useful life of 4 years, based on expected product innovations in the market. Prepare Flints journal entries to record the purchase of the patent and 2017 amortization. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 2.On August 1, 2017, Flint Corporation acquired Tamarisk, Inc. for a cash payment of $2.30 million. At the time of purchase, Tamarisks balance sheet showed assets of $4,378,000, liabilities of $2,638,000, and owners equity of $1,740,000. The fair value of Tamarisks identifiable assets is estimated to be $4,330,000. Compute the amount of goodwill acquired by Flint.