Question: ( c ) The transaction on June 3 0 , 2 0 2 4 , shows the company purchased a patent for $ 5 3

(c) The transaction on June 30,2024, shows the company purchased a patent for $53,000 from a third-party marketing company.
Suppose the company instead spent $53,000 to internally develop the new packaging technology, which it then patented. Calculate
the difference in net income and total assets for 2024(ignoring tax effects).
Additional expense for 2024
The income and total assets in 2024 would have been higher. (True or False) The answer isn't 0 and it isn't 53,000.
 (c) The transaction on June 30,2024, shows the company purchased a

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