Powerglide Company, organized in 2011, has set up a single account for all intangible assets. The following summary discloses the debit entries that have been recorded during 2012.

1/2/12		Purchased patent (9-year life)		$442,170
4/1/12		Goodwill (indefinite life)		345,500
7/1/12		Purchased franchise with 10-year life; expiration date 7/1/22		447,600
8/1/12		Payment of copyright (5-year life)		146,640
9/1/12		Research and development costs		225,900
				$1,607,810

(a) Prepare the necessary entries to clear the Intangible Assets account and to set up separate accounts for distinct types of intangibles.

(b) Make the entry as of December 31, 2012, recording any necessary amortization

(c) Reflect all balances accurately as of December 31, 2012. (Use straight-line amortization.)