Bluestone Company had three intangible assets at the end of 2014 (end of the accounting year):

a. A patent purchased from Miller Co. on January 1, 2014, for a cash cost of $3,200. When purchased, the patent had an estimated life of eight years.

b. A trademark was registered with the federal government for $6,000. Management estimated that the trademark could be worth as much as $160,000 because it has an indefinite life.

c. Computer licensing rights were purchased on January 1, 2014, for $66,000. The rights are expected to have a six-year useful life to the company.

1. compute acquistion cost

patent, trademark, licensing rights

2. compute amorization of each intangible for year ended in dec 31, 2104

patent, trademark, licensing rights

3.

Show how these assets and any related expenses should be reported on the balance sheet and income statement for 2014. please provide step to step solution so that i can refer to it and understand... also for part 3 please provide as in balance and income statement ( intangibles and total intangibles) thanks