Information for Marigold Corporations intangible assets follows:

1.		On January 1, 2020, Marigold signed an agreement to operate as a franchisee of Copy Service Inc., for an initial franchise fee of $75,000. Of this amount, $33,000 was paid when the agreement was signed and the balance is payable in four annual payments of $10,500 each, beginning January 1, 2022. 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, 2020, of the four annual payments discounted at 6% (the implicit rate for a loan of this type) is $36,384. The agreement also provides that 3% of the franchisees revenue must be paid to the franchisor each year. The franchisor requires that Marigold provide it with some form of assurance verifying the revenue amount used to determine the 3% payment. Marigolds revenue from the franchise for 2020 was $750,000. Marigold estimates that the franchises useful life will be 11 years.
2.		Marigold incurred $45,000 in experimental costs in its laboratory to develop a patent, and the patent was granted on January 2, 2020. Legal fees and other costs of patent registration totalled $13,400. Marigold estimates that the useful life of the patent will be 6 years.
3.		A trademark was purchased from Shanghai Company for $28,400 on July 1, 2017. The legal costs to successfully defend the trademark totalled $8,160 and were paid on July 1, 2020. Marigold estimates that the trademarks useful life will be 15 years from the acquisition date.

DONE: Prepare a schedule showing the intangible assets section of Marigolds statement of financial position at December 31, 2020. (see below)

QUESTION: Compute the total amount of expenses resulting from the transactions that would appear on Marigolds income statement for the year ended December 31, 2020.

Marigold Corporation Intangible Assets December 31, 2020 Intangible Assets-Franchis 63076 Intangible Assets-Patents 11167 Intangible Assets-Tradema 29593 Total Intangible Assets 103836