for $1,200. In the first year, 10,200 units were sold. All costs per unit totalled $825. Required 1. As the CFO, how would you record transactions relating to the patent in the first year? 2. Prepare the income statement for the integrated system's operations for the first year. Evaluate the profitability of the integrated system's operations. Use an income tax rate of 35%. 3. Explain what items were recorded as assets and why. Requirement 1. As the CFO, how would you record transactions relating to the patent in the first year