The intangible assets section of Swifty Company at December 31, 2020, is presented below.

Patents ($61,000 cost less $6,100 amortization)		$54,900
Franchises ($35,000 cost less $14,000 amortization)		21,000
Total		$75,900

The patent was acquired in January 2020 and has a useful life of 10 years. The franchise was acquired in January 2017 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2021.

Jan. 2		Paid $18,000 legal costs to successfully defend the patent against infringement by another company.
Jan.June		Developed a new product, incurring $148,000 in research and development costs. A patent was granted for the product on July 1. Its useful life is equal to its legal life.
Sept. 1		Paid $54,000 to an extremely large defensive lineman to appear in commercials advertising the companys products. The commercials will air in September and October.
Oct. 1		Acquired a franchise for $114,000. The franchise has a useful life of 50 years.

(C) Prepare the intangible assets section of the balance sheet at December 31, 2021. (Round answers to 0 decimal places, e.g. 2,125.) Swifty Company Balance Sheet (Partial) For the Year Ended December 31, 2021 Property, plant and Equipment