Barnes Corporation had the following transactions:

May 1^st, 2014, Acquired a franchise for $210,000. The franchise agreement expires on April 30^th, 2019.

June 1^st, 2014, Incurred research costs of $40,000 and development costs of $100,000. A marketable product has been identified and production will commence in the near future. The product is expected to have a useful life of 20 years.

December 1^st, 2014, Acquired another company and recorded goodwill of $500,000 as part of the purchase.

December 31^st, 2014, Recorded annual amortization. Tested the intangible assets for impairment. Recoverable amounts exceeded carrying amounts in all cases. Also tested goodwill and determined that it had a recoverable amount of $450,000.

Calculate the amounts that would be presented on the Balance Sheet (Statement of Financial Position) at December 31, 2014 after all year end entries have been done. Please DO NOT include items that should be on the income statement.

If the balance is zero (nil) please place a zero box below.

Hint: you may wish to prepare journal entries and/or t-accounts for the above transactions.

	Amount in the Account on Balance Sheet	Amount in the Related Accumulated Amortization account, if applicable
Franchise	$	$
Goodwill	$	$
Research	$	$
Development	$	$