please solve question a

Information concerning Grouper Corporation's intangible assets is as follows. 1. On January 1, 2025, Grouper signed an agreement to operate as a franchisee of Hsian Copy Service, Ine, for ma initiat franchise fee of $72,500. Of this amount, $14,500 was paid when the agreement was signed, and the balance is payabie in 4 annual payments of $14,500 each, beginning January 1, 2026. The agreement provides that the down payment is not refundable and no future services are required of the franchisor. The present value at lanuary 1,2025, of the 4 anmot payments discounted at 14% (the implicit rate for a loan of this type) is $42,250. The agreement also provides that? 7 ? revenue from the franchise must be paid to the franchisor annually. Grouper's revenue from the franchise for 2025 was $800,000. Grouper estimates the useful life of the franchise to be 10 years. (Hlint: You may want to refer to Chapter ig ta determine the proper accounting treatment for the franchise fee and payments) 2. Grouper incurred $65,000 of experimental and development costs in its laboratory to develop a patent that wix frantat on January 2, 2025. Legal fees and other costs associated with registration of the patent totaled 525,600. Grooper estimatr that the useful life of the patent will be 8 years. 3. A trademark was purchased from Shanghai Company for $38,000 on July 1,2022 . Expenditures for succeistul litianionin defense of the trademark totaling $13,600 were paid on July 1,2025, Grouper estimates that the usetul iife of the tadereark will be 20 years from the date of acquisition. \& Your answer is partially correct. Prepare a schedule showing the intangible assets section of Grouper's balance sheet at December 31,2025. Information concerning Grouper Corporation's intangible assets is as follows. 1. On January 1, 2025, Grouper signed an agreement to operate as a franchisee of Hsian Copy Service, Ine, for ma initiat franchise fee of $72,500. Of this amount, $14,500 was paid when the agreement was signed, and the balance is payabie in 4 annual payments of $14,500 each, beginning January 1, 2026. The agreement provides that the down payment is not refundable and no future services are required of the franchisor. The present value at lanuary 1,2025, of the 4 anmot payments discounted at 14% (the implicit rate for a loan of this type) is $42,250. The agreement also provides that? 7 ? revenue from the franchise must be paid to the franchisor annually. Grouper's revenue from the franchise for 2025 was $800,000. Grouper estimates the useful life of the franchise to be 10 years. (Hlint: You may want to refer to Chapter ig ta determine the proper accounting treatment for the franchise fee and payments) 2. Grouper incurred $65,000 of experimental and development costs in its laboratory to develop a patent that wix frantat on January 2, 2025. Legal fees and other costs associated with registration of the patent totaled 525,600. Grooper estimatr that the useful life of the patent will be 8 years. 3. A trademark was purchased from Shanghai Company for $38,000 on July 1,2022 . Expenditures for succeistul litianionin defense of the trademark totaling $13,600 were paid on July 1,2025, Grouper estimates that the usetul iife of the tadereark will be 20 years from the date of acquisition. \& Your answer is partially correct. Prepare a schedule showing the intangible assets section of Grouper's balance sheet at December 31,2025