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 $560,000 4/1/17 360,000 Purchased patent (8-year life) Purchased trademarks (indefinite life) Purchased copyright on artwork; expiration date 7/1/2037 Research and development costs 7/1/17 440,000 9/1/17 185,000 Enter your answers below in whole dollars without a sign (e.g., xxx) a. How much expense will Lake Company recognize in 2017 due to the purchased patent? b. How much expense will Lake Company recognize in 2017 due to the purchased trademarks? c. How much expense will Lake Company recognize in 2017 due to the purchased copyright? d. How much expense will Lake Company recognize in 2017 due to its Research and development? c. Based on the above, what is the net book value of total intangible assets that Lake Company's balance sheet will show on Dec 31, 2017