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During year 2, Smith Co. filed suit against West, Inc. seeking damages for patent infringement. At December 31 , year 2, Smith's legal counsel believed that it was probable that Smith would be successful against West for an estimated amount in the range of $75,000 to $150,000, with all amounts in the range considered equally likely. In March year 3 . Smith was awarded $100,000 and received full payment thereof. in its year 2 financial statements, issued in February year 3 , how should this award be reported? As a disclosure of a contingent gain of an undetermined amount in the range of $75,000 to $150,000. As a receivable and deferred revenue of $100,000. As a disclosure of a contingent gain of $100,000. As a receivable and revenue of $100,000