Sunland Company has a December 31 fiscal year end. Selected information follows for Sunland Company for two independent situations as at December 31, 2024: 1. Sunland purchased a patent from Splish Brothers Inc. for $429,000 on January 1, 2021. The patent expires on January 1. 2029. Sunland has been amortizing it over its legal life. During 2024, Sunland determined that the patent's economic benefits would not last longer than six years from the date of acquisition. 2. Sunland has a trademark that had been purchased in 2017 for $265,000. During 2023, the company spent $50,000 on a lawsuit that successfully defended the trademark. On December 31, 2024, it was assessed for impairment and the recoverable amount was determined to be $286,000.

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