On January $1,2026,$ Weaver Corporation purchased a patent for $\backslash (\backslash$$ $237,000\backslash ).$ The remaining legal life is $20$ years, but the company estimates the patent will be useful for only six more years. In January $2028,$ the company incurred legal fees of $\backslash (\backslash$$ $57,000\backslash )$ in successfully defending a patent infringement suit. The successful defense did not change the company's estimate of useful life. Weaver Corporation's year$-$end is December $31.$

Required:

Determine the financial statement effects of the following: the purchase in $2026$; amortization in $2026$; amortization in $2027$; legal fees in $2028$; and amortization in $2028.$

Complete this question by entering your answers in the tabs below.

Jan $2026$

Dec $2027$

Determine the financial statement effects of the purchase in $2026.$

Note: Amounts to be deducted should be indicated by a minus sign. Complete this question by entering your answers in the tabs below.

Jan $2026$

Dec $2026$

Dec $2027$

Jan $2028$

Dec $2028$

Determine the financial statement effects of the amortization in $2026.$

Note: Amounts to be deducted should be indicated by a minus sign. Complete this question by entering your answers in the tabs below.

Jan $2026$

Dec $2026$

Dec $2027$

Jan $2028$

Dec $2028$

Determine the financial statement effects of the amortization in $2027.$

Note: Amounts to be deducted should be indicated by a minus sign. Complete this question by entering your answers in the tabs below.

Jan $2026$

Dec $2026$

Dec $2027$

Jan $2028$

Dec $2028$

Determine the financial statement effects of the legal fees in $2028.$

Note: Amounts to be deducted should be indicated by a minus sign. Complete this question by entering your answers in the tabs below.

Dec $2026$

Jan $2028$

Dec $2028$

Determine the financial statement effects of the amortization in $2028.$

Note: Amounts to be deducted should be indicated by a minus sign.