The following information concerns the intangible assets of Epstein Corporation a. On June 30, 2018, Epstein completed the acquisition of the Johnstone Corporation for $1,400,000 in cash. The fair value of the net identifiable assets of Johnstone was $1,200,000. was 12 years, but Epstein believes that the patent will only be useful for another seven years is 9 years b. Included in the assets purchased from Johnstone was a patent that was valued at $56,000. The remaining legal life of the patent c. Epstein acquired a franchise on October 1, 2018, by paying an initial franchise fee of $144,000. The contractual life of the franchise X: Import a new list 1 Record the goodwill amortization. 2 Record the amortization of patent. 3 Record the amortization of franchise Credi Prepare the intangible asset section of the Dec Partial Balance Sheet December 31, 2018 Intangible assets: Goodwill Patent Franchise Total intangibles $