What is the amount to be reported for intangible assets on the balance sheet at December 31, 2018?

Wildhorse Co., organized in 2017, provided you with the following information. 1. 2. 3. 4. 5. 6. Purchased a license for $28,800 on July 1, 2017. The license gives Wildhorse exclusive rights to sell its services in the tri-state region and will expire on July 1, 2025. Purchased a patent on January 2, 2018, for $81,800. It is estimated to have a 5-year life. Costs incurred to develop an exclusive Internet connection process as of June 1, 2018, were $87,800. The process has an indefinite life. On April 1, 2018, Wildhorse Co. purchased a diode manufacturer for $695,000. Goodwill recorded in the transaction was $121,800. On July 1, 2018, legal fees for successful defense of the patent purchased on January 2, 2018, were $15,570. Research and development costs incurred as of September 1, 2018, were $87,800. Date Account Titles and Explanation Debit Credit January 2, 2018 - TPatents 81,800 T Cash 81,800 July 1, 2018 - TPatents T Cash 15,570) December 31, 2018 Amortization Expense T Patents 18,090 At December 31, 2018, an impairment test is performed on the license purchased in 2017. It is estimated that the net cash flows to be received from the license will be $21,200, and its fair value is $20,600. Compute the amount of impairment, if any, to be recorded on December 31, 2018. Loss on impairments 2800 What is the amount to be reported for intangible assets on the balance sheet at December 31, 2017? At December 31, 2018? December 31, 2017 December 31, 2018 Amount to be reported 27,000