Please use the format to complete BE12-4 on the third image.

BRIEF EXERCISE 12-4 Copyright No. 1 for $36,000 should be capitalized. Its carrying value on the December 31, 2017 balance sheet would be $30,000 [$36,000 - ($36,000 x 113 x 6112)]. Copyright No. 2 for $54,000 should be capitalized. Although it seems to have an indefinite useful life, it may still need to be amortized. For example, if it is not updated on a regular basis it would have a maximum life of 50 years. However, if the text is regularly updated (for example, if it has multiple editions, and multiple authors) it could be argued that the it has an indefinite life. In that case, it could be reflected on the December 31, 2017 balance sheet at its cost of $54,000 without amortization. Brief Exercise 12-4 Bramble Industries Ltd. acquired two copyrights during 2017. One copyright was on a textbook that was developed internally at a cost of $35,500. This textbook is estimated to have a useful life of 4 years from July 1, 2017, the date it was published. The second copyright is for a history research textbook and was purchased from University Press on October 1, 2017, for $53,800. This textbook seems to have an indefinite useful life. How should these two copyrights be reported on Bramble's statement of financial position as at December 31, 2017? (Round answers to 0 decimal places, e.g. 5,275.) \\x' V Copyright No. 1 should be . It would be reflected on the December 31, 2017 . at $ Copyright No. 2 should be V . It would be reflected on the December 31, 2017 V at $ (LO 2, BE12-4 Azure Industries Ltd. acquired two copyrights during 2017. One copyright was on a textbook that was devel- 3, 4) oped internally at a cost of $36,000. This textbook is estimated to have a useful life of three years from July 1, 2017, the date it was published. The second copyright is for a history research textbook and was purchased from University Press on October 1, 2017, for $54,000. This textbook seems to have an indefinite useful life. How should these two copyrights be reported on Azure's statement of financial position as at December 31, 2017