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Dantric Limited has a December 31 fiscal year end. Dantric purchased a patent from Baltic Inc. for $ 400,000 on January 1, 2022. The patent

Dantric Limited has a December 31 fiscal year end. Dantric purchased a patent from Baltic Inc. for $ 400,000 on January 1, 2022. The patent expires on January 1, 2030. Dantric has been amortizing it over its legal life. During 2025, Dantric determined that the patent's economic benefits would not last longer than six years from the date of acquisition. Instructions Determine the amount that will be reported on a) Dantric's December 31, 2024 and 2025, statements of financial position. b) Dantric's 2025 income statement. Be specific about the account name and the account

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