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Splish Brothers Industries had one patent recorded on its books as of January 1, 2025....

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Accounting

Splish Brothers Industries had one patent recorded on its books as of January 1, 2025. This patent had a book value of 403,200 and a remaining useful life of 8 years. During 2025, Splish Brothers incurred research and development costs of $95,000 and brought a patent infringement suit against a competitorOn December 1, 2025, Splish Brothers received the good news that its patent was valid and that its competitor could not use the process Splish Brothers had patented. The company incurred $93,500 to defend this patent At what amount should patent(s) be reported on the December 31, 2025, balance sheet, assuming monthly amortization of patents? (Round all computations and the final answer to zero decimal places.)

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