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 $34,400 Goodwill 40,900 Dynamo's financial condition just prior to the acquisition of these assets is shown in the following statements model Balance Sheet Income Statement Assets Statement Cash Stockholders Patent + of Cash Goodwill Liabilities Equity Revenue Expenses - Net Income Flows 57,400 + NA . NA NA 37,100 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 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 Compute the annual amortization expense for these items Patent per year Required A Required Required Show the acquisition of the intangible assets and the related amortization expense for Year 1 in a horizontal statements model. (In the Statement of Cast designate operating activity, IA for investing activity, and FA for financing activity. Leave blank to indicate that an element is not affected by the event. En and cash outflows with a minus sign. Round final answers to the nearest whole dollar amount.) DYNAMO MANUFACTURING Hodontal Statements Model Baloce Sheet Incon Statement Assets Net Stafernent of Cash Flows Liabile Stockholders Equity Revenue Expenses Income Patent Goodwill Canh B7 400+ 87 400 Acquisition Amortization