Dynamo Manufacturing paid cash to acquire the assets of an existing company. Among the assets acquired were the following items: Check my work Patent with 4 remaining years of legat lite Goodwill $35,700 42,700 Required a. Compute the annual amortization expense for these items. b. Record the acquisition of the intangible assets and the related amortization expense for Year 1 in a horizontal statements model, Complete this question by entering your answers in the tabs below. Required A Required Record the acquisition of the intangible assets and the related amortization expense for Year 1 in a horizontal statements model. (In the Statement of Cash Flows column operating activity, IA for investing activity, and FA for financing activity, Enter any decreases to account balances and cash outflows with a minus sign. Not all cells requin the nearest whole dollar amount.) Event DYNAMO MANUFACTURINO Horizontal Statements Model Balance Sheet Liabilities Stockholders Goodwill Equity 88.700 Income Statement Assets Patent . Revenue Cash 88.700 + Statement of Cash Flows Expense Net Income Acquisition Amortization expense