Question: Indie Inc. incurred $ 1 , 0 0 8 , 5 0 0 of product development expenditure in 2 0 2 3 financial statements. Assume

Indie Inc. incurred $1,008,500 of product development expenditure in 2023 financial statements. Assume that Indie expensed 90% of its product development expenditure.
Required:
1. Give three examples of product development expenditures that should be included in the income statement.
2. Give one example of product development expenditure that should be capitalized.
3. Used FSET to record Indies product development expenditure of 2023.

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