Oriole Co., organized in 2017, provided you with the following information.

1.		Purchased a license for $31,680 on July 1, 2017. The license gives Oriole exclusive rights to sell its services in the tri-state region and will expire on July 1, 2025.
2.		Purchased a patent on January 2, 2018, for $75,800. It is estimated to have a 5-year life.
3.		Costs incurred to develop an exclusive Internet connection process as of June 1, 2018, were $85,000. The process has an indefinite life.
4.		On April 1, 2018, Oriole Co. purchased a diode manufacturer for $700,600. Goodwill recorded in the transaction was $115,000.
5.		On July 1, 2018, legal fees for successful defense of the patent purchased on January 2, 2018, were $15,390.
6.		Research and development costs incurred as of September 1, 2018, were $85,000

Question

What is the amount to be reported for intangible assets on the balance sheet at December 31, 2017? At December 31, 2018?

December 31, 2017 December 31, 2018

Amount to be reported $ $