Answer the following and SHOW YOUR SOLUTIONS IN GOOD FORM.

B D E 1 10 8 9 2 Installment Sales 3 Cost of Installment Sales 4 Gross Profit 5 Gross Profit Rate on Sales 6 Gross Profit Rate on Cost 7 Collection : 2011 Contract 2012 Contract 2013 Contract 10 Defaulted Contract of 2012 11 Realized Gross Profit 12 Merchandise Repossession 13 Loss on Repossession 14 Contract Balance of 2011 15 Contract Balance of 2012 16 Contract Balance of 2013 17 Deferred Gross Profit 2012 2011 2012 2013 1,500,000.00 2,400,000.00 8 1 5 2,400,000.00 2 6 9 3 7 50% 4 750,000.00 30,000.00 600,000.00 11 600,000.00 150,000.00 211,200.00 420,000.00 12 90,000.00 15,000.00 13 14 15 270,000.00 18 B D E 1 10 8 9 2 Installment Sales 3 Cost of Installment Sales 4 Gross Profit 5 Gross Profit Rate on Sales 6 Gross Profit Rate on Cost 7 Collection : 2011 Contract 2012 Contract 2013 Contract 10 Defaulted Contract of 2012 11 Realized Gross Profit 12 Merchandise Repossession 13 Loss on Repossession 14 Contract Balance of 2011 15 Contract Balance of 2012 16 Contract Balance of 2013 17 Deferred Gross Profit 2012 2011 2012 2013 1,500,000.00 2,400,000.00 8 1 5 2,400,000.00 2 6 9 3 7 50% 4 750,000.00 30,000.00 600,000.00 11 600,000.00 150,000.00 211,200.00 420,000.00 12 90,000.00 15,000.00 13 14 15 270,000.00 18