Lake Company, organized in 2017, has the following transactions related to intangible assets in that year. Lake Company uses the calendar year for financial reporting.

1/1/17	Purchased patent (8-year life)	$560,000
4/1/17	Purchased trademarks (indefinite life)	360,000
7/1/17	Purchased copyright on artwork; expiration date 7/1/2037	440,000
9/1/17	Research and development costs	185,000

Enter your answers below in whole dollars without a $ sign (e.g., xxx).

1. How much expense will Lake Company recognize in 2017 due to the purchased patent? Blank 1
2. How much expense will Lake Company recognize in 2017 due to the purchased trademarks? Blank 2
3. How much expense will Lake Company recognize in 2017 due to the purchased copyright? Blank 3
4. How much expense will Lake Company recognize in 2017 due to its Research and development? Blank 4
5. Based on the above, what is the net book value of total intangible assets that Lake Companys balance sheet will show on Dec. 31, 2017? Blank 5