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 $33,600 Goodwill 36,700 Dynamo's financial condition just prior to the acquisition of these assets is shown in Required B. 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. Compute the annual amortization expense for these items. Amortization expense per year Record the acquisition of the intangible assets and the related amortization expense for year 1 in a horizontal statements model. (In the Cash Flow column, use the initials OA for operating activities, FA for financing activities, or IA for investing activity. Leave the cell blank if there is no effect. Enter any decreases to account balances with a minus sign. Not all cells will require entry.) Show less DYNAMO MANUFACTURING Horizontal Statements Model Balance Sheet Income Statement Event Assets Statement of Cash Flows = Liabilities + + Goodwill Equity Revenue Net Income Expense Cash + Patent + + 89,400 + + + 89,400 = + Acquisition Amortization ++ + + II 11 ++