Intangibles: Balance Sheet Presentation and Income Statement Effects Bringle Company has provided information on intangible assets as follows: when Lou sold it to Bringle. franchise to be 10 years and takes a full year's amortization in the year of purchase. 3. Bringle incurred R\&D costs in 2019 as follows: Bringle estimates that these costs will be recouped by December 31, 2020. Required: 1. Prepare a schedule showing the intangibles section of Bringle's balance sheet at December 31,2019. Amortization of patent for 2019 Patent balance Schedule 2: Computation of Franchise from Rink Company Cost of franchise at date of purchase Amortization of franchise for 2019 Franchise balance 2. Prepare a schedule showing the income statement effects for the year ended December 31,2019 , as a result of the previously mentioned facts. Bringle Company Income Statement Effects For the Year Ended December 31,2019 Patent from Lou Company: Patent from Lou Company, net of accumulated amortization Franchise from Rink Company: Amortization of franchise for 2019 (Schedule 2) Payment to Rink Research and Development Costs Total expenses