a) Goodwill ( 10 marks) BlackCat Industries purchased all of the following assets and liabilities of Yellow Hird tne. for 5951,000 cash: Required; Prepare the journal entry to record the acquisition of YellowBird. On Jan 1, 2017. Simmons Corp, purchased a patent from Ace Ltd. For $80.000. On Jan 1, 2020 Simmons paid $12,500 for successful litigation in defence of the patent. Simmons estimates that the useful life of the patent will be 15 years from the date of acquisition. Required: Calculate the carrying value of the patent at December 31,2020 . Show your work in the space provided below. Carrying value at December 31,2020 Workspace (will be graded): c) Research and Development Costs (4 marks) Rainbow Corp, incurred the following costs related to research and development in 2021. The 6 specific conditions required for capitalization have been met and they follow IFRS. Required: 1. How much of these costs should be capitalized as development costs in 2021 ? (2 maris) 2. For costs that should not be capitalized as development costs in 2021, explain where they would be recorded in the financial statements: ( 2 marks)