Q1 The intangible assets section of Powerdlige Company at Dec.31, 2018 is presented below: Equipment $ 4,800,000 Less: Accumulated Depreciation 480,000 $4,320,000 Intangible assets Patent ($120,000 cost less $12,000 amortization) $108,000 Copyright (S72,000 cost less $28,800 amortization) 43,200 151.200 Total $4.471.200 Equipment is acquired in January 2018 and its useful life is 10 years. The patent was acquired in January 2017 and has a useful life of 10 years. The copyright was acquired in January 2015 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2019. Jan2 Paid $180,000 legal costs to successfully defend the patent against infringement by another company. Jan - June Developed a new product, incurring $220,000 in research and development costs. A patent was granted for the product on July 1. Its useful life is equal to its legal life. April 4 Purchase additional equipment for $360,000 to be used for 5 years.(straight line depreciation method used). Aug.1 Payment for equipment $156,000(5 year life) Sept. Paid $100,000 to an extremely large defensive lineman to appear in commercials advertising the company's products. The commercials will air in September and October Oct 31 Acquired a copyright for $200,000. The copyright has a useful life of 50 years