Suppose Jonathan Automobiles Lid paid $200,000 to research a new global positioning wystem Jonathan also paid $1,100,000 to acquire a patent on a new motor After readying the motor for production, Jonathan's sales revenue for the first year totalled $8,000,000 Cost of goods sold was 53.100,000, and selling expenses were $275,000. All these transactions occurred during fiscal 2020. Jonathan expects the patent to have a useful life of two years Prepare Jonathan's income statement for the fiscal year ended December 31, 2020 For the Year Ended December 31, 2020 0 Revenue Expenses Totales Net income Choose from any stor enter any number in the inputs and then Check