Bluestone Company had three Intangble assets at the end of the current year: a. A patent purchased this year from Miller Co. on January 1 for a cash cost of $7,500. When purchased, the patent had an estimated lfe of 15 years. b. A trademark was registered with the federal government for $6,500. Management estlmated that the trademark could be worth as much as $170,000 because It has an Indefinite life. C. Computer licensing rights were purchased this year on January 1 for $60,000. The rights are expected to have a five-year useful life Required 1. Compute the acquistion cost of each Intangible asset. 2 Compute the amortization of each Intangible for the current year ended December 31. 3. Show how these assets and any related expenses should be reported on the balance sheet and Income statement for the current Complete this question by entering your answers in the tabs below. Req 2 Req 1 Req 38 Req 34 Compute the acquisition cost of each intangible asset. uisition Patent Trademark R Req 34 Req 1 Req 38 Compute the amortization of each intangible for the current year ended December 31. (Do not round intermediate calculations.) Expenses Patent Trademark Licensing Rights Req 1 Req 2 Req 34 Show how these assets and any related expenses should be reported on the income statement for the current year. BLUESTONE COMPANY Income Statement (partial) For the year ending December 31 Req 1 Req 34 Show how these assets and any related expenses should be reported on the balance sheet for the current year. (Negative amounts should be indicated by a minus sign.) BLUESTONE COMPANY Balance sheet (partial) At December 31 ntangibles