Cullumber Company, organized in 2022 , has the following transactions related to intangible assets. (a1) Prepare the necessary entries to record these transactions. All costs incurred were for cash. Make the adjusting entries as of December 31, 2022, recording any necessary amortization. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record joumal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit For 2022, Kingbird, Inc. reported beginning total assets of $219,000 and ending total assets of $371,000. its net income for this period was $54,500, and its net sales were $708,000. Compute the company's asset turnover for 2022. (Round answer to 2 decimal ploces, es. 1.25.) Asset turnover times