Springer Company had three intangible assets at the end of $2023($end of the accounting year$)$:

a$.$ A copyright purchased on January $1,2023,$ for a cash cost of $$15,600.$ The copyright is expected to have a $10-$year useful life to

Springer.

b$.$ Goodwill of $$76,000$ from the purchase of the Hartford Company on July $1,2022.$

c$.$ A patent purchased on January $1,2022,$ for $$54,000.$ The inventor had registered the patent with the U$.$S$.$ Patent and Trademark

Office on January $1,2018.$ Springer intends to use the patent for its remaining life.

Required:

Compute the amortization expense of each intangible for the year ended December $31,2023.$ The company does not use contra$-$

accounts.

$2$a$.$ Show how the expenses related to the three intangible assets should be reported on the income statement for $2023.$

$2$b$.$ Show how the three intangible assets should be reported on the balance sheet for $2023.($Assume there has been no impairment

of goodwill.$)$

Complete this question by entering your answers in the tabs below.

Req $1$

Req $2$A

Compute the amortization expense of each intangible for the year ended December $31,2023.$ The company does not use

contra$-$accounts.