Exercise 8-21A (Algo) Computing and recording the amortization of intangibles LO 8-10, 8-11 Dynamo Manufacturing paid cash to acquire the assets of an existing company. Among the assets acquired were the following items: Goodwill Patent with 4 remaining years of legal life K Required: $34,700 42,500 a. Compute the annual amortization expense for these items. b. Record the acquisition of the intangible assets and the related amortization expense for Year 1 in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Compute the annual amortization expense for these items. Amortization expense per year Required A Required B > Required: a. Compute the annual amortization expense for these items. b. Record the acquisition of the intangible assets and the related amortization expense for Year 1 in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Record the acquisition of the intangible assets and the related amortization expense for Year 1 in a horizontal statements model. Note: In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, and FA for financing activity. Enter an outflows with a minus sign. Not all cells require input. Round final answers to the nearest whole dollar amount. DYNAMO MANUFACTURING Horizontal Statements Model Bance Sheet Income Statement Event Cash 89,000 Assets Patent Goodwill Liabilities Stockholders' Equity Net Revenue- Expense Income Statement of Cash Flows 89,800 Acquisition Amorization expense: Required A Required D >