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Crane Company has provided information on intangible assets as follows. A patent was purchased from...

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Crane Company has provided information on intangible assets as follows. A patent was purchased from Larkspur Company for $1,850,000 on January 1, 2024. Crane estimated the remaining useful life of the patent to be 10 years. The patent was carried in Larkspur's accounting records at a net book value of $1,850,000 when Larkspur sold it to Crane. During 2025, a franchise was purchased from Blue Company for $490,000. In addition, 5% of revenue from the franchise must be paid to Blue. Revenue from the franchise for 2025 was $2,490,000. Crane estimates the useful life of the flanchise to be 10 years and takes a full year's amortization in the year of purchase. Crane incurred research and development costs in 2025 as follows. Crane estimates that these costs will be recouped by December 31,2028 . The materials and equipment purchased have no alternative uses. Your answer is correct. Prepare a schedule showing the intangibles section of Crane's balance sheet at December 31, 2025. (Enter account name only and do not provide descriptive information.) CRANE COMPANY Income Statement Effect December 31,2025 $

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