Prepare any adjusting journal entries required at December 31, 2021, the company's year end, and update the account balances. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Show how the intangible assets and goodwill will be reported on the balance sheet at December 31, 2021. (List Intangible Assets in order of Patents and Copyrights.)

Adjusting journal entry needs to be solved in order to solve the balance sheet. I have the transactions recorded, if you would like that sheet I can send that as well

The intangible assets and goodwill reported by Carla Vista Company at December 31, 2020, follow: $ 64,000 Patent #1 Less: Accumulated amortization Copyright #1 Less: Accumulated amortization Goodwill Total $ 80,000 16,000 40,800 24,480 16,320 208,000 $ 288,320 Patent #1 was acquired in January 2019 and has an estimated useful life of 10 years. Copyright #1 was acquired in January 2015 and also has an estimated useful life of 10 years. The following cash transactions may have affected intangible assets and goodwill during the year 2021: Jan. 2 June 30 Paid $22,400 of legal costs to successfully defend Patent #1 against infringement by another company. Developed a new product, incurring $173,000 in research costs and $51,840 in development costs, which were paid in cash. The development costs were directly related to Patent #2, which was granted for the product on July 1. Its estimated useful life is equal to its legal life of 20 years. Paid $11,300 to an Olympic athlete to appear in commercials advertising the company's products. The commercials will air in September. Acquired a second copyright for $16,320 cash. Copyright #2 has an estimated useful life of six years. Sept. 1 Oct. 1 Prepare any adjusting journal entries required at December 31, 2021, the company's year end, and update the account balances. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 2 Account Titles and Explanation Debit Credit Amortization Expense 10800 Accumulated Amortization - Patents 10800 (To record amortization on patents.) Amortization Expense 4080 Accumulated Amortization - Copyrights 4080 (To record amortization on copyrights.) Show how the intangible assets and goodwill will be reported on the balance sheet at December 31, 2021. (List Intangible Assets in order of Patents and Copyrights.) CARLA VISTA COMPANY (Partial) Balance Sheet December 31, 2021 Assets Intangible Assets Patents $ 154240 Less : Accumulated Amortization - Patents 28096 i $ Copyrights 57120 Less : Accumulated Amortization - Copyrights 28560 Total Intangible Assets Goodwill eTextbook and Media Show how the intangible assets and goodwill will be reported on the balance sheet at December 31, 2021. (List Intangible Assets in order of Patents and Copyrights.) CARLA VISTA COMPANY (Partial) Balance Sheet December 31, 2021 Assets ssets $ 154240 Accumulated Amortization - Patents 28096 $ 126144 57120 Accumulated Amortization - Copyrights 28560 28560 gible Assets 154704 208,000