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Exercise 8-21A (Algo) Computing and recording the amortization of intangibles L0 8-10, 8-11 Dynamo Manufacturing paid cash to acquire the assets of an existing company. Among the assets acquired were the following items. Patent with 4 remaining years of legal life Goodwill $31,00038,200 Dynamo's financial condition just prior to the acquisition of these assets is shown in the following statements model. Required a. Compute the annual amortization expense for these items. b. Show the acquisition of the intangible assets and the related amortization expense for Year 1 in a horizontal statements model c. Prepare the journal entries to record the acquisition of the intangible assets and the related amortization for year 1 . Complete this question by entering your answers in the tabs belc Compute the annual amortization expense for these items. Show the acquisition of the intangible assets and the related amortization expense for Year 1 in a horizontal statements model. (In the Statement of designate operating activity, IA for investing activity, and FA for financing activity. Leave blank to indicate that an element is not affected by the even and cash outflows with a minus sign. Round final answers to the nearest whole dollar amount.) Prepare the journal entries to record the acquisition of the intangible assets and the related amortization for year 1 . (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round final answers to the nearest whole dollar amount.) Journal entry worksheet Record cash paid to acquire the assets of an existing company. Note: Enter debls before credits

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