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 $ 34,900

Goodwill 38,700

Required

Compute the annual amortization expense for these items.

Record the acquisition of the intangible assets and the related amortization expense for year 1 in a horizontal statements model shown below.

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 s shown below. Complete this question by entering your answers in the tabs below. Required A Required B Compute the annual amortization expense for these items. Patent per year Required Required B > Complete this question by entering your answers in the tabs below. Required A Required B Record the acquisition of the intangible assets and the related amortization expense for year 1 in a horizontal statements model sho Initials oa for operating activities, FA for financing activities, IA for investing activity. Leave the cell blank if there is no effect. Enter minus sign.) DYNAMO MANUFACTURING Horizontal Statements Model Balance Sheet Income Statement Statement of Cash Flows Event Assets Patent Liabilities + Equity Revenue Net Income Expense + Goodwill Cash 96,700+ + + 96,700 + + Acquisition Patent +