The intangible assets section of Flounder Corporations balance sheet at December 31, 2022, is presented here.

Patents ($76,700 cost less $6,600 amortization)		$70,100
Copyrights ($36,500 cost less $22,500 amortization)		14,000
Total		$84,100

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		Paid $36,000 legal costs to successfully defend the patent against infringement by another company.
Jan.	June		Developed a new product, incurring $253,000 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 $10,000.
Sept.	1		Paid $62,000 to a quarterback to appear in commercials advertising the companys products. The commercials will air in September and October.
Oct.	1		Acquired a copyright for $237,000. The copyright has a useful life and legal life of 50 years