C. Record the entry for amortization in a Munn Inc. reported other noncurrent asset account balances on December 31, 2020, as followe Exercise 13-54 Accounting for various Intangible Costs Amortization Change in Estimate LOS Patent Accumulated amortization Net patent (24 from the date of its acquisition the trademark. Munn considers the life of the trademark to be indefinite. c. On January 1, 2021, Munn acquired all the noncash assets and assumed all liabilities of Ambey Company at a cash purchase price of $1,200.000. Munn determined that the fair value of the identifiable net asetit quired in the transaction is $800,000, d. Munn incurred the following research and development costs in 2021. Salaries and related expenses related to the development of patents. Supplies Allocated facility costs $125.000 15.000 20.000 Required a. Prepare a schedule of amortization for 2021 relating to Munn's intangible assets assuming straight-line amortization b. Prepare the balance sheet presentation of intangible assets for Munn on December 31, 2021, and the income statement presentation for the year ended December 31, 2021. Transactions during 2021 and other information relating to Munn's other noncurrent assets include the follow The patent was purchased from Grey Company on January 2, 2019, when the remaining legal te was years. On January 1, 2021. Munn determined that the remaining useful life of the patent was only eight you On January 1, 2021. in connection with the purchase of a trademark from Cody Corp., the parties 25 reflected Cody's agreement not to compete for a period of five years in the line of business covered