ercises (graded) Saved Exercise 8-21A (Algo) Computing and recording the amortization of intangibles LO 8-10, 8-11 Dynamo Manufacturing paid cash to acquire the assets of an existing company. Among the assets acquired were the following items Patent with 4 remaining years of legal life Goodwill $36,900 40,300 Dynamo's financial condition Just prior to the acquisition of these assets is shown in the following statements model. Balance Sheet Income Statement Assets Cash + Patent 97,200 + NA + Goodwill NA Liabilities + NA Stockholders' Equity 97,200 Revenue NA Expenses NA Net Income NA Statement of Cash Flows NA Required a. Compute the annual amortization expense for these items. b. Show the acquisition of the Intangible assets and the related amortization expense for Year 1 in a horizontal statements model. c. Prepare the journal entries to record the acquisition of the Intangible assets and the related amortization for year 1 Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the annual amortization expense for these items. Patent per year ses (graded) Complete this question by entering your answers in the tabs below. Saved Required A Required B Required C Show the acquisition of the intangible assets and the related amortization expense for Year 1 in a horizontal statements model. (In the Statement designate operating activity, IA for investing activity, and FA for financing activity. Leave blank to indicate that an element is not affected by the ew and cash outflows with a minus sign. Round final answers to the nearest whole dollar amount.) DYNAMO MANUFACTURING Horizontal Statements Model Balance Sheet Income Statement Statement of Cash Event Assets Liabilities + Stockholders' Equity Revenue Expenses Net Income Flows Cash Patent Goodwill 07.200 07.200 Acquisition Amortization + Required A Required B Required C Prepare the journal entries to record the acquisition of the intangible assets and the related amortization for year 1. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Bound final answers to the nearest whol dollar amount.) View transaction list ences Journal entry worksheet A B Record cash paid to acquire the assets of an existing company. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal