Dynamo Manufacturing paid cash to acquire the assets of an existing company. Among the assets acquired were the following items: Patent with 4 remaining years of legal life $ 40,000 Goodwill 35,000 Required: Compute the annual amortization expense for these items. Record the acquisition of the intangible assets and the related amortization expense for Year 1 in a horizontal statements model. mount. Show less DYNAMO MANUFACTURING Horizontal Statements Model Event Balance Sheet Income Statement Statement o