Extracted text: The intangible assets and goodwill reported by Sunland Corporation at December 31, 2020, follow: Copyrights (#1) $36,120 Less: Accumulated amortization $ 18,060 18,060 Trademarks 53,130 Goodwill 124,750 Total $195,940 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. Paid $6,690 in legal costs to successfully defend the trademarks against infringement by another company. July Developed a new product, incurring $193,940 in research and $48,300 in development costs with probable future benefits. The product is expected to have a useful life of 21 years. Sept. Paid $59,790 to a popular hockey player to appear in commercials advertising the company's products. The commercials will air in early September. Acquired another copyright (#2) for $171,000. The new copyright has a useful life of six years. Oc. Dec. 31 Determined the fair value of the goodwill to be $81,050. There was no indication that the copyrights or trademarks were impaired.
Extracted text: 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.) SUNLAND CORPORATION Statement of Financial Position (Partial) December 31, 2021 Assets Intangible assets: Intangible Assets and Goodwill Copyrights Less v: Accumulated Amortization - Copyrights 48300 Development Costs