Bears Inc. incurred the following costs during the year ending December 31, 2020: Laboratory research aimed at the discovery of new knowledge Design of new products involving new technology Testing of new products $ 80,000 29,000 19,000 120,000 Construction of research and development facilities Instructions Assuming the 6 specific conditions have been demonstrated, calculate the total amount to be classified as development costs for Bears Inc., either deferred or capitalized, in 2020. Show all your calculation and provide a brief explanation of your rationale. (5 marks) Part 2 During 2020, Falcons Ltd. incurred the following costs: Research Expense Routine design of tools, jigs, moulds, and dies Modification of the formulation of a process Development services performed by suppliers for Falcons Instructions $360,000 250,000 610,000 325,000 Assuming the 6 specific conditions have been demonstrated, calculate the total amount to be classified as development costs for Falcons Ltd., either deferred or capitalized, in 2020. Show all your calculation and provide a brief explanation of your rationale