E9-12 Computing and Reporting the Acquisition and Amortization of Three Different Intangible Assets [LO 9-6] Bluestone Company had three intangible assets at the end of the current year: 1923 a. A patent purchased this year from Miller Co. on January 1 for a cash cost of $9,300 When purchased the patent had an estimated life of 15 years b A trademark was registered with the federal government for $10,000 Management estimated that the trademark could be worth as much as $200.000 because it has an indefinite life Computer licensing rights were purchased this year on January 1 for $60,000. The nights are expected to have a five year useful life to the company Acquisition Cost Patent Trademark Licensing Rights Compute the amortization of each intangible for the current year ended December 31. (Do not round intermediate calculations.) Amortization Expenses Patent Trademark Licensing Rights Show how these assets and any related expenses should be reported on the income statement for the current year. BLUESTONE COMPANY Income Statement (partial) For the year and December 31 Show how these assets and any related expenses should be reported on the balance sheet for the current year. (Negative amounts should be indicated by a minus sign.) BLUESTONE COMPANY Balance Sheet (partial) At December 31 Intangibles