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Question 1 (8 marks) On March 1, 2020, Sabina inc's application for a patent of a new product was granted, Legal and registration costs incurred for the patent were $75,000. The patent's legal life is 20 years but management estimates that the patent will be useful to the company for 15 years starting on March 1, 2020 Sabina Inc incurred $26.000 in legal fees to successfully defend their patent on June 1, 2021 (assume there are 14 years left in the Patent's life from the date the lawsuit was successfully resolved on June 1, 2021) Required: What is the carrying value Cost less Accumulated Amortization) of the Patent on December 31, 2021? (show all work) Question 2 (6 marks) On September 1, 2020, Luigi Corp purchased Mario Enterprises for a cash payment of $863,000. At the time of the purchase, Mario's Balancp Sheet showed Inventory at $220.000, Equipment at $100,000, Building at $550,000. Trademarks at $30,000, liabilities of $460,000, and equity of 5440,000 At the date of purchase, the book value of the equipment is determined as being overstated by $20,000, the book value of the building is determined as being understated by $100,000 and the Trademarks are determined worthless Required: Prepare the required journal entry in Luigi's books on September 1, 2020 to record the purchase (including goodwill)