The following list of items was included in Small Corporation's intangible asset account. For each, indicate if the item should be reported as an intangible asset on the balance sheet. If the item should NOT be reported as an intangible asset on the balance sheet, indicate where it should be reported in the financial statements. Should item be reported as an intangible asset on B/S? Yes or No If it should NOT be reported as an intangible asset, where should it be reported? (e.g., Revenue, expense, notes, asset, liability, n/a) where possible list the exact account name. Item Timberland Lease prepayment (6 months' rent paid in advance) Cost incurred in the formation of a corporation Purchase cost of a franchise Goodwill generated internally Cost of developing a patent Cost of purchasing a copyright Research and development costs Cost of purchasing a patent from an inventor Training costs incurred in start-up of a new operation