Enrichment Problem 2 The following information are taken from the books of I. Corporation Questions: 2019 2020 Sales: Regular Installment 1,250,000 1,875,000 625,000 1,000,000 Cost of Sales Regular Installment Selling Expenses Collections on Regular Sales 750,000 1,125,000 312,500 450,000 250,000 312,500 1,000,000 1,375,000 Installment Sales 2019 375,000 250,000 Installment Sales 2020 625,000 Interest 2019 Installment Sales 100,000 100,000 Interest 2020 Installment Sales 150,000 1. What and how much is the total revenue declared in 2019 ad 2020 2. How much is the total net income in each year? 3. Compute for the year-end balances of the following: a. Deferred Gross Profit 2019 Sales b. Deferred Gross Profit 2020 Sales