in january 2015 coaticook inc coaticook purchased a patent for a pharmaceutical designed to help bald people to grow hair/

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It’s July 2017. Coaticook’s management has approached you for advice on how it should account for, if at all, the change in market conditions for its product in its June 30, 2017 second quarter financial statements. Management would like you to fully explain your reasoning and to provide any journal entries required to deal with the problem. They would also like your opinion on what effect this information will have on the com pany’s stock price and on its performance for the year.

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