During 2017, Coronado Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Coronado for a lump sum of $58,400 because it is discontinuing manufacturing operations and wishes to dispose of its entire stock. Three types of chairs are included in the carload. The three types and the estimated selling price for each are listed below.

Type		No. of Chairs		Estimated Selling Price Each
Lounge chairs		400		$90
Armchairs		300		80
Straight chairs		800		50

During 2017, Coronado sells 200 lounge chairs, 120 armchairs, and 110 straight chairs. What is the amount of gross profit realized during 2017? What is the amount of inventory of unsold straight chairs on December 31, 2017?