E8-21 LO8-6 Computing and Reporting the Acquisition and Amortization of Three Different Intangible Assets Springer Company had three intangible assets at the end of 2020 (end of the accounting year): a. A copyright purchased on January 1, 2020, for a cash cost of $14.500. The copyright is expected to have a 10-year useful life to Springer. b. Goodwill of $65,000 from the purchase of the Hartford Company on July 1, 2019. c. A patent purchased on January 1, 2019, for $48,000. The inventor had registered the patent with the U.S. Patent and Trademark Office on January 1, 2015. Springer intends to use the patent for its remain- ing life. Required: 1. Compute the amortization of each intangible at December 31, 2020. The company does not use contra-accounts. 2. Show how these assets and any related expenses should be reported on the balance sheet and income statement for 2020. (Assume there has been no impairment of goodwill.)