During the current year Knight Company incurred several expenditures. Briefly explain whether the expenditures listed below should be recorded as an operating expense or as an intangible asset. If you view the expenditure as an intangible asset, indicate the number of years over which the asset should be amortized. Explain your answer. a Spent $30,000 in legal costs in a patent defense suit. The patent was unsuccessfully defended. (b) Purchased a trademark from another c ompany. The trademark can be renewed indennitely. Knight Company expected the trademark to contribute to revenue indefinitely. Knight Company acquires a patent for $2 000. The company selling the patent has spent $1,000 Oon the researcan development ofit. The patent asare na ning eofl ears. (d)Knight Company is spending considerable time and money in developing a different patent for another product. So far $3,000,000 has been spent this year on research and development. Knight Company is very conndent they will obtain this patent in the next few years