Information concerning Pina Corporation's intangible assets is as follows. 1. On January 1, 2025, Pina signed an agreement to operate as a franchiset of Hsian Copy Service, Inc. for an initial franchise fee of $50,000, Of this amount, $10,000 was paid when the agreement was signed, and the balance is payable in 4 annual payments of $10,000 each, beginning January 1, 2026. The agreement provides that the down payment is not refundable and no future services are required of the franchisor. The present value at January 1, 2025, of the 4 annual payments discounted at 10% (the implicit rate for a loan of this type) is $31.700. The agreernent also provides that 4% of the revenue from the franchise must be paid to the franchisor annually. Pina's revenue from the franchise for 2025 was $800,000. Pina estimates the usefullife of the franchise to be 10 vear s. (1fint: You may want to refer to Chapter 18 to determine the proper accountine treatment for the franchise fee and payments] 2. Pina incurred $60,000 of experimental and development costs in its laboratory to develop a patent that was granted on January 2. 2025, Legai fees and other costs astociated with reeistration of the patent totaled 517,000 . Pina estimates that the usefulfife of the patent witt be 8 years A trademark was purchased Irom Stunehai Compary for \$30,000 on July 1,2022. Expendibures for successful fitication in defense of the trademark totaling 58500 were paid on July 1. 2025 . Pina estimates that the useful fife of the trademark wilf be 20 years trom the date of acquisition. Prepare a schedule showing the intangible assets section of Pina's balance sheet at December 31.2025. Prepare a schedule showing all expenses resulting from the transactions that would appear on Pina's income statement for the your ended Decrember 31.2025