3

In October 2024, Jones Computer Store purchased, on account, 40 computers for $600 each. The computers were delivered in November. Jones Computer Store paid for three-fourths of this purchase in 2024 and paid the remaining one-fourth in 2025. Jones Computer Store sold 8 of the computers in 2024 for $9ee each. Two-thirds of this cash was collected in 2024 with the remaining one-third collected in 2025. 29 of the computers were sold in 2e25 for $1,500 a piece. One-half of these sales were collected in 2025 and the other one-half were collected in 2026. Based on the realization principle and the matching concept, calculate the amount of gross profit reported in Jones' 2925 income statement .