During 2022, Hernandez Company incurred $1,900,000 of research and development costs in its laboratory to develop a new product and $220,000 in legal fees to patent the product. Use the following tabular analy sis to record these costs assuming that the payments were made in cash. Assets = Liabilities + Stockholders' Equity. Decrease Cash and increase Expenses $2,120,000. Increase Patents $220,000, increase Expenses $1,900,000, decrease Cash $2,120,000. Increase Revenues and Cash $2,120,000. Increase Patents and decrease Cash $2,120,000