Sandhill Electric Inc. has the following amounts included in its general ledger at December 31, 2023: Organization costs Purchased trademarks Development phase activities (meet all six development phase criteria) Deposits with advertising agency for ads to promote goodwill of company $34,800 18,200 29,500 8,300 Excess of cost over fair value of identifiable net assets of acquired subsidiary 81,900 Cost of equipment acquired for research and development projects; the equipment has an alternative future use 124,200 Costs of researching a secret formula for a product that is expected to be marketed for at least 20 years Payment for a favourable lease; lease term of 10 years (a) Based on the information provided, calculate the total amount for Sandhill to report as intangible assets on its statement of financial position at December 31, 2023. Assume Sandhill uses IFRS to prepare its financial statements. 75,000 14,400 Total amount of intangible assets to be reported SA 114500