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 540,00035,000 Dynamo's financial condition just prior to the acquisition of these assets is shown in the following statements model. 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. Complete this question by entering your answers in the tabs below. Prepare the journal entries to record the acquisition of the intangible assets and the related amortization for year 1 . (If no entry is required for a transactionvevent, select "No journal entry required" in the first account field.) Journal entry worksheet Journal entry worksheet Record cash paid to acquire the assets of an existing company. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits