PROBLEM 22-15 Azon, Inc. reported other noncurrent asset account balances on December 31, 2015, as follows: Patent P 384,000 Accumulated amortization (48,000) Net Patent P 336,000 Transactions during 2016 and other information relating to Azon's other noncurrent assets included the following: The patent was purchased from Ruby Company on January 2, 2014, when the remaining legal life was 16 years. On January 2, 2016, Azon determined that the remaining useful life of the patent was only eight years from the date of its acquisition. Scanned with CamScanner On January 3, 2016, in connection with the purchase of a trademark from Golden Corp., the parties entered into a noncompetition agreement. Azon paid Golden P1,600.000, of which three-quarters related to the trademark and one-quarter reflected Golden's agreement not to compete for a period of five years in the line of business covered by the trademark. Azon considers the life of the trademark to be indefinite. On January 3, 2016, Azon acquired all the noncash assets and assumed all liabilities of White Company at a cash purchase price of P2,400,000. Azon determined that the fair value of the net asset acquired in the transaction is P1,600,000. Questions: Based on the above, determine the following: 1. Amortization expense of Patent in 2016 2. Amortization expense of Trademark in 2016 3. Amortization expense of Noncompetition agreement in 2016 4. Carrying amount of Goodwill as of December 31, 2016. Total carrying amount of the intangible assets as of December 31, 2016