Question: Larkspur Industries acquired two copyrights during 2025. One copyright related to a textbook that was developed internally at a cost of $9,600. This textbook is

Larkspur Industries acquired two copyrights during 2025. One copyright related to a textbook that was developed internally at a cost of $9,600. This textbook is estimated to have a useful life of 3 years from September 1, 2025, the date it was published. The second copyright (a history research textbook) was purchased from University Press on December 1, 2025, for $34,000. This textbook has an indefinite useful life.

How should these two copyrights be reported on Larkspurs balance sheet as of December 31, 2025?

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