Exercise 12-3 Joni Skysong Inc. has the following amounts reported in its general ledger at the end of the current year. Organization costs Trademarks Discount on bonds payable Deposits with advertising agency for ads to promote goodwill of company Excess of cost over fair value of net identifiable assets of acquired subsidiary Cost of equipment acquired for research and development projects; the equipment has an alternative future use Costs of developing a secret formula for a product that is expected to be marketed for at least 20 years $23,700 15,500 36,700 11,700 76,700 86,700 82,400 (a) On the basis of this information, compute the total amount to be reported by Skysong for intangible assets on its balance sheet at year-end. Total amount reported for intangible assets