Brief Exercise 6-10 (Algo) Computing and recording the amortization of intangibles LO 6-10 Vever Lost Incorporated makes and sells a custom tracking token that can assist people in locating their lost items. On January 1, Year , the company paid $31,500 cash in legal fees to establish a patent for its technology. The patent has a 15-year useful life. Never Lost ncorporated's financial condition just prior to establishing the patent is provided in the first row of the horizontal statements model. Required: a. Record the acquisition of the patent in a horizontal statements model. b. Record the amortization of the patent at the end of Year 1 in a horizontal statements model. Vote: In the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or inancing activities (FA). Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no nput is needed