Teal Mountain Golf lnc was formed on July 1, 2024, when Matt Mazike purchased the Old Master Golf Compary. Oid Master provides video relf instruction at kiocks in shopping malls. Magilke plans to integrate the instructional business into his golf equipment and accessory stores, Magike paid \$850,000 cash for Old Master. At the time, Old Master's balance sheet reported assets of $630,000 and liabilities of $190.000 (thus stockholders equity was $440,000 ). The fair value of Old Master's assets is estimated to be $830.000. Included in the assets is the Old Master trade name with a fair value of $7,000 and a copvright on some instructional copright has a remaining life of 40 wars. Prepare the intangiule assets section of Teal Mountain Goil inc. at December 31,2024. Prepare the journal entry to record amortization expense for 2025. (Credit occount titles are outomatically indented whes amount is befort creditentry] Prepare the intaneale assets section of Toal Mountain Golt InC. at December 31.2025. (No lonoairments are reouired to be recorded in 20253 At the end of 2026, Magilke is evaluating the results of the instructional busirfess. Due to fierce competition from onlirie and cuit is $400.000. Magille has collected the following information related to the conpany's intangble assets. Prepare the iouirnal entries required, if any, to record impairments on Teal Mountain intareble assats. Assume that any amvertiation for 2026 has been recorded and that the cartyint value of the reporting unit is $400,000 (which reflects recos vition entries]