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Edward, Inc uses the installment method of gross profit recognition. The following table pertains to its operations from 2014 to 2016: 2014 2015 2016 Installment

Edward, Inc uses the installment method of gross profit recognition. The following table pertains to its operations from 2014 to 2016:

2014 2015 2016
Installment Sales 50,000 80,000 (7)?
Cost Installment Sales (1)? (5)? 91,800
Gross Profit (2)? (6)? 28,200
Gross Profit Percentages (3)? 25% (8)?
Cash collection:
2014 Sales (4) 25,000 10,000
2015 Sales 0 20,000 50,000
2016 Sales 0 0 45,000
Realized Gross Profit 1,100 10,500 (9)?

Required: Complete the above table

answer each number with complete solution

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