Show Attempt History Current Attempt in Progress The intangible assets and goodwill reported by Wildhorse Corporation at December 31,2020 , follow: A copyright (\#1) was acquired on January 1, 2019, and has a useful life of four years. The trademarks were acquired on January 1 , 2017, and are expected to have an indefinite life. The company has a December 31 year end and prepares adjusting journal entries annually. The following cash transactions may have affected intangible assets and goodwill during 2021: A copyright (\#1) was acquired on January 1, 2019, and has a useful life of four years. The trademarks were acquired on January 1 , 2017, and are expected to have an indefinite life. The company has a December 31 year end and prepares adjusting journal entries annually. The following cash transactions may have affected intangible assets and goodwill during 2021: Jan. 5 Paid $7,370 in legal costs to successfully defend the trademarks against infringement by another company. July 1 Developed a new product, incurring $219,600 in research and $50,000 in development costs with probable future benefits. The product is expected to have a useful life of 20 years. Sept. 1 Paid $58,000 to a popular hockey player to appear in commercials advertising the company's products. The commercials will air in early September. Oct. 1 Acquired another copyright (\#2) for $180,000. The new copyright has a useful life of six years. Dec. 31 Determined the fair value of the goodwill to be $84,980. There was no indication that the copyrights or trademarks were impaired. Show the presentation of the intangible assets and goodwill on the statement of financial position at December 31, 2021. (List Intangible assets in order of Finite Life Intangible Assets and Indefinite-life Intangible Assets. Record Development Costs before Copyrights.) Question 5 of 5 Assets Intangible assets: Intangible Assets and Goodwill Copyrights $212580 Less :: Accumulated Amortization - Copyrights Development Costs \begin{tabular}{||r|} \hline 2500 \\ \hline \end{tabular} Indefinite-Life Intangible Assets Trademarks Total Intangible Assets Goodwill Screenshot