Harmax Limited spent $$5,000$ registering an internally developed patent and then another $$20,000$ defending and enforcing the patent in its first year. How should the patent be reflected in the financial statements? The full $$25,000$ expensed in the year. $$5\mathrm{.}000$ capitalized as Patent asset and the $$20,000$ expensed. $$20,000$ capitalized as Patent asset and the $$5\mathrm{.}000$ expensed. The full $$25,000$ capitalized in the year.