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

Patents ($80,800 cost less $6,700 amortization)		$74,100
Copyrights ($46,000 cost less $35,500 amortization)		10,500
Total		$84,600

Work completed:

Need help with:

I've done the calculations wrong, but I don't know what I did wrong; here's what I used:

[(80,800 x 1/10) + (46,000 x 1/50)] = $13,191

[(46,000 x 1/10) + ( (46,000 x 1/50)] = $920

Can you help me figure out the correct answers and what I did wrong?

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. Jan.- June 2 Paid $36,000 legal costs to successfully defend the patent against infringement by another company. Developed a new product, incurring $232,000 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 $40,000. Sept. 1 Paid $49,500 to a quarterback to appear in commercials advertising the company's products. The commercials will air in September and October. Oct. 1 Acquired a copyright for $298,000. The copyright has a useful life and legal life of 50 years. Date an. 2 an.-June uly 1 ept. 1 ict. 1 Account Titles and Explanation Patents Cash Research and Development Expense Cash Patents Cash Advertising Expense Cash Copyrights Cash Debit 36000 232000 40000 49500 298000 Credit 36000 232000 40000 49500 298000 Prepare journal entries to record the 2023 amortization expense for intangible assets. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. Amortization Expense 13191 31 Patents (To record amortization of patents) Dec. Amortization Expense 5520 31 Copyrights (To record amortization of copyrights) 13191 5520