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In January 2023, Sheridan Company incurred $899 to research consumer preferences with the aim of filing a patent. The patent was secured in June 2023

In January 2023, Sheridan Company incurred $899 to research consumer preferences with the aim of filing a patent. The patent was secured in June 2023 for $217 in registration and legal fees. In December 2023, Sheridan paid additional legal fees of $499 to successfully defend the patent.

What amount is included as an intangible asset on the 2023 balance sheet?Select one: a. $899 b. $1615 c. $716 d. $0

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