D Reichenbach Co organized in has set up a single account for all intangible assets. The following summary discloses the debit entries that have been recorded during and

Intangible Assets

year franchise; expiration date $

Advance payment on laboratory space year lease

Net loss for including state incorporation fee, $ and related legal fees of organizing, $all fees incurred in

Patent purchased year life

Cost of developing a secret formula indefinite life

Goodwill purchased indefinite life

Legal fee for successful defense of patent purchased above

Research and development costs

Other assets accounts:

Cash & Cash Equivalent $

Accounts Receivable net

Inventory

Property, Plant, and Equipment net

A depreciable asset\'s useful life ranges between and years, and the straightline method is used to compute depreciation expense.

Prepare the Assets section of the Balance Sheet as of December

Prepare the Note Significant Accounting Policies