22. Allan has a grain farm in Iowa. His cost for raising corn is $2.28 per bushel. He sold his corn crop at three different times on the commodity market. In June after his corn was planted he sold half of his anticipated 300,000 bushel crop on the futures market for $2.32 per bushel.

In November he sold 90,000 bushel at $2.30 per bushel on the spot market. The next April, he sold the remaining 60,000 bushel for $2.25.

What were Allan’s income, costs, and profit or loss from each sale?

What were his income, costs, and profit realized from the entire crop?