Sage Hill Industries acquired two copyrights during 2017. One copyright related to a textbook that was developed internally at a cost of $14,000. This textbook is estimated to have a useful life of 4 years from September 1, 2017, the date it was published. The second copyright (a history research textbook) was purchased from University Press on December 1, 2017, for $20,000. This textbook has an indefinite useful life.

How should these two copyrights be reported on Sage Hill's balance sheet as of December 31, 2017? Copyright No. 1 Copyright No. 2