Check Janes Company provided the following information on intangible assets a. A patent was purchased from the Lou Company for $1350,000 on January 1 2019. Janes estimated the remaining useful ife of the patent to be 10 years. The patent was carried on Lou's accounting records at a netbook value of $480,000 when Lou sold it to Janes. b. During 2021, a franchise was purchased from the Rink Company for $630,000. The contractual ife of the franchise is 10 years and Janes records a full year of amortization in the year of purchase. C. Janes incurred research and development costs in 2021 as follows: Materials and supplies Personnel Indirect costs $153,000 193,000 73.900 5419,00 Total d. Effective January 1, 2021, based on new events that have occurred, Janes estimates that the remaining life of the patent purchased from Lou is only five more years Required: 1. Prepare the entries necessary for years 2019 through 2021 to reflect the tbove information 2. Prepare a schedule showing the intangible asset section of Jones's December 31, 2021, balance sheet. Complete this question by entering your answers in the tabs below. Required 1 Required 2 shom ng the intangible asset section of Sant's December 31, 2021, balance sheet Required: 1. Prepare the entries necessary for years 2019 through 2021 to reflect the above information 2. Prepare a schedule showing the intangible asset section of Janes's December 31, 2021, balance sheet Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule showing the intangible asset section of Janes's December 31, 2021, balance sheet. Partial Balance Sheet December 31, 2071 Intangible assets: $ Total intangibles worksheet eet