As the recently appointed auditor for Oriole Corporation, you have been asked to examine selected accounts before the six-month financial statements of June 30, 2020, are prepared. The controller for Oriole Corporation mentions that only one account is kept for intangible assets. The entries in Intangible Assets since January 1, 2020, are as follows: GIBLE ASSETS Debit Credit Balance 4 Research costs 1,046,400 1,046,400 5 Legal costs to obtain patent 47,000 1,093,400 Payment of seven months' rent on property leased by Oriole (February to August) 49,000 1,142,400 11 Proceeds from issue of common shares 325,400 817,000 30 Promotional expenses related to start-up of business 170,000 987,000 1 Development stage costs (meet all six development stage criteria) 226,000 1,213,000 30 Start-up costs for first six months of operations 319,000 1,532,000