E8-20 Computing and Reporting the Acquisition and Amortization of Three Different Intangible Assets LO8-6 Trotman Company had three intangible assets at the end of 2016 (end of the accounting year): a. Computer software and Web development techno b. A patent purchased from lan Zimmer on January 1, 2016, for a cash cost of $6,000. Zimmer had registered the patent with the U.S. Patent Office five years ago. indefinite life. Required: c.A frademark purchased for $13,000 on November 1, 2016. Management decided the trademark has an 1. Compute the acquisition cost of each intangible asset. Acquisition cost Technology Patent Trademark ta 2. Compute the amortization of each intangible at December 31, 2016. The company does not use contra- accounts. (Assume the company uses straight-line method.) (Do not round your Intermedlate calculations.) Amortization Technology Patent Trademark 3. Show how these assets and any related expenses should be reported on the balance sheet and income statement for 2016. rin TROTMAN COMPANY Income Statement for 2016 (Partial) Operating expenses: tatie TROTMAN COMPANY Balance Sheet December 31, 2016 (Partial) Intangibles