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 Goodwill $37,500 42,300 Dynamo's financial condition just prior to the acquisition of these assets is shown in the following statements model: Equity Rev. 98,300 + NA NA 98,300 NA NA Assets Patent Liab. Exp. Net Inc. Cash Flow Cash + Goodwill NA NA = NA Required: a. Compute the annual amortization expense for these items. b. Show the acquisition of the intangible assets and the related amortization expense for year 1 in a horizontal statements model like the one shown earlier. c. Prepare the journal entries to record the acquisition of the intangible assets and the related amortization for year 1. Complete this question by entering your answers in the tabs below. Required A Required B Required Show the acquisition of the intangible assets and the related amortization expense for year 1 in a horizontal statements model like the one shown earlier. (In the Cash initials o to designate operating activity, IA for Investing activity, FA for financing activity, NC for Net Change and Na to indicate the ciement is not affected by the ever account balances with a minus sign.) DYNAMO MANUFACTURING Statements Model Liabilities - Equity Revenus Assets Expenses Net Income Cash Flow . Patent + Goodwill Cash 08,300 58,300 NA 42.300 NA Acquisition Amortization 37.500 0,375 9.375 (0.375) 19.375) LA Required A Required B Required c Prepare the journal entries to record the acquisition of the intangible assets and the related amortization for year required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet A B Record cash paid to acquire the assets of an existing company. Note: Enter debits before credits. General Journal Debit Credit Event 1 acondant Claro Woonacional