Exercise 9-15 On January 1, 2022, Wildhorse Co. had a balance of $339,000 of goodwill on its balance sheet that resulted from the purchase of a small business in a prior year. The goodwill had an indefinite life. During 2022, the company had the following additional transactions. Jan. 2. Purchased a patent (6-year life) $372,750. July 1 Acquired a 8-year franchise; expiration date July 1, 2,030, $561,600 Sept. 1 Research and development costs $188,000. your answer is partially correct. Try again. Indicate what the intangible asset account balances should be on December 31, 2022. Goodwill 339,000 Patent 372,750 Franchise 561,600