On January 1, 20Y3, The Simmons Group, Inc., purchased the assets of NWS Insurance Co. for $36,000,000, a price reflecting an $4,500,000 goodwill premium. On December 31, 2019, The Simmons Group determined that the goodwill from the NWS acquisition was impaired and had a value of only $2,362,500. a. Determine the book value of the goodwill on December 31, 2019, prior to making the impairment adjustment. $ b. Illustrate the effects on the accounts and financial statements of the December 31, 2019, adjustment for the goodwill impairment. For decreases in accounts or outflows of cash, enter your answers as negative numbers. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. Balance Sheet Assets Liabilities + Stockholders' Equity + + 20Y9 Dec. 31. Statement of Cash Flows Income Statement Dovetail Technologies Company acquired patent rights on January 6, 2045, for $2,417,500. The patent has a useful life of 10 years. On January 7, 2016, Dovetail Technologies successfully defended the patent in a lawsuit at a cost of $302,188. a. Determine the patent amortization expense for the current year ended December 31, 2016. If required, round your answer to nearest whole value. $ b. Illustrate the effects on the accounts and financial statements to recognize the amortization. For decreases in accounts or outflows of cash, enter your answers as negative numbers. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. Round your final answer to the nearest whole dollar. Balance Sheet Assets Liabilities + Stockholders' Equity Dec. 31. Statement of Cash Flows Income Statement