Exercise 12-17 Oriole Company incurred the following costs during the current year in connection with its research and development activities. Cost of me in future gured that will have eative projects over the next years M e d projects Consultado de for ts Per prevents et ses Mabe purchased for projects 114.000 12.000 Compute the amount to be reported as research and development expense by Oriole on its current year income statement. Assume equipment is purchased at the beginning of the year