Rizzo SpA organized in 2022, provided you with the following information. 1. Purchased a license for 30,000 on July 1, 2022. The license gives Rizzo exclusive rights to sell its services in the region and will expire on July 1, 2030. 2. Purchased a patent on January 2, 2023, for 80,000. It is estimated to have a 5-year life. 3. Costs incurred to develop an exclusive Internet connection process as of June 1, 2023, were 90,000. Economic viability has not yet been achieved. The process has an indefinite life. 4. On April 1, 2023, Rizzo purchased a diode manufacturer for 700,000. Goodwill recorded in the transaction was 120,000. 5. On July 1, 2023, legal fees for successful defense of the patent purchased on January 2, 2023, were 15,400. 6. Research and development costs incurred as of September 1, 2023, were 90,000 (20,000 of that amount is for an economically viable project, which will result in a patent). Prepare the journal entries to record all the entries related to the patent account during 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit January 2, 2023 Patents 80000 Cash 80000 December 31, 2023 Patent Amortization Expense 16000 Patents 16000 At December 31, 2023, an impairment test is performed on the license purchased in 2022. It is estimated that the fair value less costs to sell is 14,500 and the value-in-use is 16,000. Compute the amount of impairment, if any, to be recorded on December 31, 2023. Loss on impairment 8375 What is the amount to be reported for intangible assets on the statement of financial position at December 31, 2022? At December 31, 2023? December 31, 2022 December 31, 2023 Amount to be reported 28125