Crystal Company summarized the following transactions pertaining to patent: 2020 Dec 31 Spent P250,000 for the research and development of the patent. 2021 Jan 1 Paid P60,000 to apply for and obtain right to the patent. The Useful life of the patent is 10 years. 2022 Jan 1 Purchased for P600,000 a new patent that is expected to prolong the life of the original patent by 6 years. 2023 Jan 1 A competitor obtained rights to a patent which rendered the entity's patent obsolete. Prepare the amortization schedule. 2021 2022 2023 FINANCIAL POSITION Original Patent Cost Accumulated amortization Net book value Related Patent Cost Accumulated amortization Net book value = STATEMENT OF INCOME Original Patent Amortization expense Related Patent Amortization expense Loss Impairment loss