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 $36,700 Goodwill 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. Complete this question by entering your answers in the tabs below. Compute the annual amortization expense for these items. Fcord the acquisition of the intangible assets and the related amortization expense for Year 1 in a horizontal statements model. mplete this question by entering your answers in the tabs below. ord the acquisition of the intangible assets and the related amortization expense for Year 1 in a horizontal statements model. e: In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, and FA for financing activity. flows with a minus sign. Not all cells require input. Round final answers to the nearest whole dollar amount. Pitney Company purchased an office building, land, and furniture for $660,000cash. The appraised value of the assets was as follows: a. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Compute the amount to be recorded on the books for each asset. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar: Complete this question by entering your answers in the tabs below. Show the purchase in a horizontal statements model. Note: In the Statement of Cash. Flows column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, and cash outflows with a minus sign. Not all celis require input, Do not round intermediate calculations. Round your final answers to the nearest y hate operating activity, IA for investing activity, FA for financing activity, and NC for net change in cash, Enter any decreases to account balances ind intermediate calculations. Round your final answers to the nearest whole dollar. Indicate whether each of the following statements is true or false. a) Long-term assets having no physical substance are called intangible assets. b) Trademarks are examples of an intangible asset. c) Natural resources are examples of tangible long-term assets. d) Land is never classified as a component of property, plant, and equipment. e) Goodwill is classified as Property, Plant and Equipment