The intangible assets section of Blue Corporation's balance sheet at December 31, 2022, is presented here. Patents ($73,200 cost less $7,400 amortization) $65,800 Copyrights ($37,000 cost less $24,500 amortization) 12,500 Total $78,300 The patent was acquired in January 2022 and has a useful life of 10 years. The copyright was acquired in January 2016 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2023. Jan. 2 Jan.- June Sept. 1 Oct. 1 Paid $36,000 legal costs to successfully defend the patent against infringement by another company. Developed a new product, incurring $233,500 in research and development costs. A patent was granted for the product on July 1, and its useful life is equal to its legal life. Legal and other costs for the patent were $30,000. Paid $61,500 to a quarterback to appear in commercials advertising the company's products. The commercials will air in September and October. Acquired a copyright for $301,000. The copyright has a useful life and legal life of 50 years. Record the 2023 amortization expense for intangible assets. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Bal. Assets Cash + Patents $65,800 36,000 Jan. 2 $(36,000) Jan. - June (233,500) July 1 (30,000) 30,000 Sept. 1 (61,500) Oct. 1 (301,000) Dec. 31 Dec. 31 Bal. + Copyrights $12,500 $ $ 301,000 $ Liab Record the 2023 amortization expense for intangible assets. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Retained Earnings Revenue Expense $(233,500) (61,500) $ Dividend Research & development expense Advertising expense