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Whispering Winds Company, organized in 2020, has the following transactions related to intangible assets. 1/2/20 4/1/20 7/1/20 9/1/20 Purchased patent (6-year life) Goodwill purchased (indefinite

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Whispering Winds Company, organized in 2020, has the following transactions related to intangible assets. 1/2/20 4/1/20 7/1/20 9/1/20 Purchased patent (6-year life) Goodwill purchased (indefinite life) 15-year franchise Research and development costs $420,000 360,000 600,000 184,000

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