Information concerning tilossom Corporation's intangible assets follows: 1 2 Blossom incurred $63,000 of experimental and development costs in its laboratory to develop a patent which was granted on January 2.2020. Legal fees associated with registration of the patent totaled $18.000, Blossom estimates that the useful life of the potent will be 10 years the legal life of the patent is 20 years On January 1 2020, Blossom signed an agreement to operate as a franchise of Dairy King in for an initial franchise fee of $135.000 The agreement provides that the tee is not refundable and no future service are required of the franchisor Blossom estimates the useful life of the franchise to be 15 years Atrion name was purchase from Stive Company for $72.000 on May 1, 2016. Expenditures for successful litigation in defense of the trade name totaling 516,200 were paid on June 1, 2020, Blossom estimates that the trade name will have an indefinite life 3 Prepare the intale asset section of the Blossom's balance sheet at December 31, 2020 Blossom Corporation INTANGIBLE ASSETS December 31, 2020 S Information concerning tilossom Corporation's intangible assets follows: 1 2 Blossom incurred $63,000 of experimental and development costs in its laboratory to develop a patent which was granted on January 2.2020. Legal fees associated with registration of the patent totaled $18.000, Blossom estimates that the useful life of the potent will be 10 years the legal life of the patent is 20 years On January 1 2020, Blossom signed an agreement to operate as a franchise of Dairy King in for an initial franchise fee of $135.000 The agreement provides that the tee is not refundable and no future service are required of the franchisor Blossom estimates the useful life of the franchise to be 15 years Atrion name was purchase from Stive Company for $72.000 on May 1, 2016. Expenditures for successful litigation in defense of the trade name totaling 516,200 were paid on June 1, 2020, Blossom estimates that the trade name will have an indefinite life 3 Prepare the intale asset section of the Blossom's balance sheet at December 31, 2020 Blossom Corporation INTANGIBLE ASSETS December 31, 2020 S