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 532,500 42,200 Dynamo's financial condition just prior to the acquisition of these assets is shown in the following statements model: Llab. + Equity Rev. Assets Patent NA Exp. Net Inc. Cash 38,700 Cash Flow + + + Goodwill NA NA + 38,700 NA NA NA NA Required: o. Compute the annual amortization expense for these items b. Show the acquisition of the intangible assets and the related amortization expense for year 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 Required Compute the annual amortization expense for these items. Patent per year Required B > 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 $32,500 42,200 Dynamo's financial condition just prior to the acquisition of these assets is shown in the following statements model: Liab. + Equity Rev. Exp. Net Inc Cash Flow + Assets Patent NA Cash 88,700 + Goodwill NA NA + 88,700 NA 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 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 Initials OA to designate operating activity, IA for investing activity, FA for financing activity, NC for Net Change and NA to indicate the element is not affecte account balances with a minus sign.) DYNAMO MANUFACTURING Statements Model Liabilities - Equity Revenue Expenses Net Income Cash Flow Patent Cash + BB 700 Goodwill 88.700 NA Acquisition Amortization View transaction list Journal entry worksheet