2. During 2019, Standard Co. filed suit against West, Inc. seeking damages for patent infringement. At December 31, 2019, Standard Co legal counsel believed that it was probable that Standard Co would be successful against West for an estimated amount in the range of $75,000 to $150,000, with all amounts in the range considered equally likely. In March 2020, Standard Co was awarded $100,000 and received full payment thereof. The December 31, 2019 financial statements were issued in February 2020