C indow Help GE IMG_5299.jpeg Open with Preview ng Enable Exam 2 Chapter 6.13.6.7. Springer Company had three intangible assets at the end of 2020 end of the accounting year: 4. A copyright purchased on January 1, 2020, for a cash cost of $15.700. The copyright is expected to have a 10 years the to Springer a Goodwill of $77,000 from the purchase of the Hartford Company on July 1, 2019 c. A patent purchased on January 1, 2019. for $56,000. The Inventor had registered the potent with the U.S. Potent and Trademark Office on January 1, 2015. Springer Intends to use the patient for its remaining life Required 1. Compute the amortization expense of each intangible for the year ended December 31, 2020. The company does not use conten- accounts 2n. Show how the expenses related to the three intangible assets should be reported on the income statement for 2020 2b. Show how the three intangible assets should be reported on the balance sheet for 2020. (Assume there has been no implemen of goodwill.) 27 stv C indow Help GE IMG_5299.jpeg Open with Preview ng Enable Exam 2 Chapter 6.13.6.7. Springer Company had three intangible assets at the end of 2020 end of the accounting year: 4. A copyright purchased on January 1, 2020, for a cash cost of $15.700. The copyright is expected to have a 10 years the to Springer a Goodwill of $77,000 from the purchase of the Hartford Company on July 1, 2019 c. A patent purchased on January 1, 2019. for $56,000. The Inventor had registered the potent with the U.S. Potent and Trademark Office on January 1, 2015. Springer Intends to use the patient for its remaining life Required 1. Compute the amortization expense of each intangible for the year ended December 31, 2020. The company does not use conten- accounts 2n. Show how the expenses related to the three intangible assets should be reported on the income statement for 2020 2b. Show how the three intangible assets should be reported on the balance sheet for 2020. (Assume there has been no implemen of goodwill.) 27 stv