During 2016, sarasota corporation spent $164,160 in research and development costs. as a result, a new product called the new age piano was patented. the patent was obtained on october 1, 2016, and had a legal life of 20 years and a useful life of 10 years. legal costs of $36,720 related to the patent were incurred as of october 1, 2016.on june 1, 2018, sarasota spent $9,720 to successfully prosecute a patent infringement suit. as a result, the estimate of useful life was extended to 12 years from june 1, 2018. prepare all journal entries required in 2018 and 2019.

University hero is considering expanding operations beyond its healthy sandwiches. jim axelrod, vice president of marketing, would like to add a line of smoothies with a similar health emphasis. each smoothie would include two free health supplements such as vitamins, antioxidants, and protein. jim believes smoothie sales should fill the slow mid-afternoon period. adding the line of smoothies would require purchasing additional freezer space, machinery, and equipment. jim provides the following projections of net sales, net income, and average total assets in support of his proposal. sandwichesonly sandwiches and smoothies net sales $ 750,000 $ 1,350,000 net income 120,000 210,000 average total assets 350,000 750,000 return on assetschoose numerator ÷ choose denominator = return on assets÷ = return on assets÷ = profit margin÷ = profit margin÷ = asset turnover÷ = asset turnover÷ = times