E18-23 (Installment-Sales Method and Cost-Recovery Method) Swift Corp., a capital goods manufacturing business that started on January 4, 2012, and operates on a calendar-year basis, uses the installmentsales method of profit recognition in accounting for all its sales. The following data were taken from the 2012 and 2013 records.

		2012			2013
Installment sales		$565,000			$613,000
Gross profit as a percent of costs		25	%		28	%
Cash collections on sales of 2012		$106,000			$159,000
Cash collections on sales of 2013