Bluestone Company had three intangible assets at the end of the current year:

1. A patent purchased this year fromMiller Co. on January 1 for a cash cost of $4,000. When purchased, the patent had an estimated life of 10 years.
2. A trademark was registered with the federal government for $11,000. Management estimated that the trademark could be worth as much as $260,000 because it has an indefinite life.
3. Computer licensing rights were purchased this year on January 1 for $36,000. The rights are expected to have a four-year useful life to the company.

How do I complete the following:

1. The acquisition cost of intangible assets patent, trademark, and licensing right.
2. The amortization of each intangible for the current year ended December 31 - patent, trademark, and licensing right.
3. How these assets and any related expenses should be reported on the income statement for the current year.
4. How the intangible assets and any related expenses should be reported on the balance sheet for the current year.