Current Attempt in Progress The intangible assets section of Pina Colada Company at December 31, 2022, is presented here Patents ($82,000 cost less $8,200 amortization) $73.800 Franchises ($39,300 cost less $15,720 amortization) 23,580 Total $97,380 The patent was acquired in January 2022 and has a useful life of 10 years. The franchise was acquired in January 2019 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2023. Jan. 2 Paid $23.400 legal costs to successfully defend the patent against infringement by another company. Sept. Paid $55.000 to an extremely large defensive lineman to appear in commercials advertising the company's products. The 1 commercials aired in September and October Oct. 1 Acquired a franchise for $ 129,600. The franchise has a useful life of 50 years. Nov.- Developed a new product, incurring $ 149,900 in research and development costs during December. A patent was Dec. granted for the product on January 1, 2024. W X MacBook Air