Sage hill industries acquired two copyrights during 2017. one copyright related to a textbook that was developed internally at a cost of $8,700. this textbook is estimated to have a useful life of 3 y

Sage hill industries acquired two copyrights during 2017. one copyright related to a textbook that was developed internally at a cost of $8,700. this textbook is estimated to have a useful life of 3 years from september 1, 2017, the date it was published. the second copyright (a history research textbook) was purchased from university press on december 1, 2017, for $30,000. this textbook has an indefinite useful life. how should these two copyrights be reported on sage hill's balance sheet as of december 31, 2017