Larkspur Industries has the following patents on its December 31, 2019, balance sheet.

Patent Item		Initial Cost		Date Acquired		Useful Life at Date Acquired
Patent A		$45,492		3/1/16		17 years
Patent B		$17,760		7/1/17		10 years
Patent C		$25,440		9/1/18		4 years

The following events occurred during the year ended December 31, 2020.

1.		Research and development costs of $253,000 were incurred during the year.
2.		Patent D was purchased on July 1 for $43,092. This patent has a useful life of 91/2 years.
3.		As a result of reduced demands for certain products protected by Patent B, a possible impairment of Patent Bs value may have occurred at December 31, 2020. The controller for Larkspur estimates the expected future cash flows from Patent B will be as follows.

Year		Expected Future Cash Flows
2021		$2,050
2022		2,050
2023		2,050

The proper discount rate to be used for these flows is 8%. (Assume that the cash flows occur at the end of the year.)

(A) Compute the total carrying amount of Larkspur patents on its December 31, 2019, balance sheet.

Total carrying amount

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(B) Compute the total carrying amount of Larkspur' patents on its December 31, 2020, balance sheet.

Total carrying amount

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