Vargo sells two products. The first (the tibed) is sold only for cash and represents a single performance obligation (sale of the product). Tibed sales for the year are 205,000 units. Tibed sells for a price of $23.90 per unit, and Vargo incurs shipping costs of $3.70 per unit sold. Vargo had sales discounts of $89,000 on tibed sales. The second is a software package (the tiderc) and is new for 2022. It has two performance obligations (sale of the software and a software update after 2 years). 59,400 units of tiderc were sold. Tiderc sells for $30 per unit (also cash sales). The standalone sales price of the software has been determined to be $25 and the standalone sales price of the update is $5. Vargo incurs a costs of $4.25 per software package. Report sales of the two products separately on the income statement (one line for tibed and one line for tiderc)

i. Vargo had an average of 135,000 shares of common stock outstanding. Vargo has no preferred stock. j. Vargo obtained a patent on 3/1/16 for $96,000 with a legal life remaining of 14 years that was estimated to have a useful life of 12 years. The future cash flows from the patent are estimated to be $44,000 as of 12/31/22 and the fair value is estimated to be $37,000. Make any entries necessary for the patent during 2022.

What is the answer for I and j ple