THE COMPANY: Aylmer Industries Inc. (Aylmer) has been in business since 2018. Aylmer has two main business segments. This first segment is the construction of large-scale projects. In 2020, Aylmer had two large construction projects in process. The other segment is the purchase and sale of small machines needed for the construction industry. There are 250,000 common shares outstanding of this publicly traded company. Since Aylmer is a publicly traded company, it follows IFRS. There are no preferred shares outstanding. The trial balance at December 31, 2020 and December 31, 2019 are provided for comparison purposes on the tab "Trial Balance" in the excel file. Use this excel worksheet to post journal entries required, to ensure that you remain in balance. The worksheet should also be used to provide a basis of preparing the financial statements at December 31, 2020. 1. Intangible Assets Amortize the intangibles according to the schedule. Amortization is recorded on an annual basis. In the excel spreadsheet, see the tab "Intangible Assets" to perform any necessary calculations m. Dividends On December 31, 2020 a dividend of $0.70 was declared to shareholders of record on January 10, 2021 to be paid January 29, 2021. Date Useful Item Developed Cost Life Trademark 2020-01-01 Patent 2020-01-01 253,500 10 Yrs 70,000 3 yrs 323,500 REQUIRED: 1. See the excel spreadsheet - all information should be recorded using the excel template. Update tabs in excel as needed - SHOW ALL WORK. 2. Prepare journal entries for the above transactions. 3. Post transactions to the worksheet and complete the worksheet