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Hi! Can you please help me with this question. Thank you so much! Exercise 9-12 On January 1, 2017, Crane Company had a balance of

Hi! Can you please help me with this question. Thank you so much! image text in transcribedimage text in transcribed

Exercise 9-12 On January 1, 2017, Crane Company had a balance of $382,000 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 2017, the company had the following additional transactions. Jan. 2 July 1 Sept. 1 Purchased a patent (7-year life) $297,150. Acquired a 10-year franchise; expiration date July 1, 2027, $590,400 Research and development costs $176,000

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