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please solve The following information relates to the intangible assets of University Testing Services (UTS): a. On January 1, 2021, UTS completed the purchase of

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The following information relates to the intangible assets of University Testing Services (UTS): a. On January 1, 2021, UTS completed the purchase of Heinrich Corporation for $3,357,000 in cash. The fair value of the net identifiable assets of Heinrich was $3,050,000. b. Included in the assets purchased from Heinrich was a patent valued at $81.200. The original legal life of the patent was 20 years; there are 12 years remaining, but UTS believes the patent will be useful for only seven more years. c. UTS acquired a franchise on July 1, 2021, by paying an initial franchise fee of $327,600. The contractual life of the franchise is 9 years. Squired: Record amortization expense for the intangible assets at December 31, 2021. (If no entry is required for a transaction/event, select No Journal Entry Required" in the first account field.) Journal entry worksheet Record the amortization on goodwill

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