EXERCISE BALANCE SHEET QUESTION 1 - Indicate with "yes" or "no" whether or not each of the following items should appear as an asset on a company's December 31, 2020 balance sheet i. Amounts paid for legal and incorporation fees. ii. The value to be derived by the firm from having a key location for selling its product iii. Costs incurred to develop a new patent iv. Interest to be received for the previous six months on a long-term note receivable v. Cash received from subscribers for publications to be shipped in Year 8 vi. The benefit to the firm of its employees receiving advanced college degrees vii. The goodwill paid for when acquiring another business enterprise viii. A union agreement that promises a higher quality of performance in the upcoming year ix. Machinery worth $1,000, purchased originally for use, but subsequently retired from use and awaiting sale x. Shares of the company's own stock purchased back from the original shareholders