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i, Vargo had an average of 325,000 shares of common stock outstanding. Vargo has no preferred stock. j. Vargo obtained a patent on 3/1/14 for
i, Vargo had an average of 325,000 shares of common stock outstanding. Vargo has no preferred stock. j. Vargo obtained a patent on 3/1/14 for $96000 with a legal life remining if 14 years that was estimated to have a useful life of 12 years. The future cashflows from the patent are estimated to be $44000 as of 12/31/19 and the fair value is estimated to be $37000. Make any entries necessary for the patent during 2019
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