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 $33,800 Goodwill 41,700 Dynamo's financial condition just prior to the acquisition of these assets is shown in the following statements model Balance Sheet Income Statement Statement Stockholders of Cash - Goodwill - Liabilities Equity 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 c. Prepare the journal entries to record the acquisition of the intangible assets and the related amortization for year 1. Net Cash 90,500 Assets Patent NA + + + Revenue NA Expenses - Income NA NA Plows NA 90,500 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 DYNAMO MANUFACTURING Horizontal Statements Model Balance Sheet Income Statement Event Assets Liabilities Stockholders Equity Statement of Cash Flows Revenue Net Income Expenses Patent Goodwill Cash 90,500 - 90,500 Acquisition Amortization + Journal entry worksheet Record cash paid to acquire the assets of an existing company. Note: Enter debits before credits. Event 1 General Journal Debit Credit Record entry Clear entry View general Journal Journal entry worksheet