Exercise 12-11 Tones Industries has the following patents on its December 31, 2013, balance sheet.

Patent Item	Initial Cost	Date Acquired	Useful Life at Date Acquired
Patent A	$45,084	3/1/10	17 years
Patent B	$24,240	7/1/11	10 years
Patent C	$39,840	9/1/12	4 years

The following events occurred during the year ended December 31, 2014.

1.	Research and development costs of $224,240 were incurred during the year.
2.	Patent D was purchased on July 1 for $40,014. This patent has a useful life of 91/2years.
3.	As a result of reduced demands for certain products protected by Patent B, a possible impairment of Patent Bs value may have occurred at December 31, 2014. The controller for Tones estimates the expected future cash flows from Patent B will be as follows.

Year	Expected Future Cash Flows
2015	$2,140
2016	2,140
2017	2,140

The proper discount rate to be used for these flows is 8%. (Assume that the cash flows occur at the end of the year.)

Compute the total carrying amount of Tones patents on its December 31, 2013, balance sheet.(Round all answers to 0 decimal places, e.g. 8,564)

Total carrying amount

$

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Compute the total carrying amount of Tones' patents on its December 31, 2014, balance sheet.(Round all answers to 0 decimal places, e.g. 8,564)

Totalcarrying amount

$