The intangible assets section of Sarasota Company at December 31, 2022, is presented here. Patents ($66,000 cost less $6,600 amortization). Franchises ($41,300 cost less $16,520 amortization) Total $59,400 24,780 $84,180 The patent was acquired in January 2022 and has a useful life of 10 years. The franchise was acquired in January 2019 and also useful life of 10 years. The following cash transactions may have affected intangible assets during 2023. Jan. 2 Sept. 1 Oct. 1 Nov- Dec. Paid $20,700 legal costs to successfully defend the patent against infringement by another company. Paid $46,000 to an extremely large defensive lineman to appear in commercials advertising the company's products. commercials aired in September and October. Acquired a franchise for $143,000. The franchise has a useful life of 50 years. Developed a new product, incurring $146,000 in research and development costs during December. A patent was granted for the product on January 1, 2024. 05'P Rain off and on KOR