During $20$X$3,$ Smith Co$.$ filed suit against West, Inc. seeking damages for patent infringement. At December $31,20$X$3,$ 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 $$150,000,$ with all amounts in the range considered equally likely. In March $20$X$4,$ Smith was awarded $$100,000$ and received full payment thereof. In its $20$X$3$ financial statements, issued in February $20$X$4,$ how should this award be reported?

As a receivable and revenue of $$100,000.$

As a receivable and deferred revenue of $$100,000.$

As a disclosure of a contingent gain of $$100,000.$

As a disclosure of contingent gain of an undetermined amount in the range of $$75,000$ to $$150,000.$