Metlock Corporation purchased a tract of unimproved land for $611,000. This land was improved and subdivided into building lots at an additional cost of $137,000. These building lots were all of the same size but owing to differences in location were offered for sale at different prices as follows: Group 1 2 3 No. of Lots Group 1 Group 2 Group 3 21 13 Net income 9 Operating expenses for the year allocated to this project total $76,500. Lots unsold at the year-end were as follows: 9 lots 3 lots 4 lots Price per Lot $25,000 20,500 $ 19,600 At the end of the fiscal year Metlock Corporation instructs you to arrive at the net income realized on this operation to date. (Do not round intermediate calculations. Round final answer to 0 decimal places, e.g. 5,845.) 143400

Metiock Corporation purchased a tract of unimproved land for $611,000. This land was improved and subdivided into builfing lots at an additional cost of $137,000. These butting tols were alf of the same stze but owing to differences in location were offered for sale at different prices as follows: Operating expenses for the vear allocated to this project total $76,500. Lots unsold at the vear-end were as follows: At the end of the fiscal year Methock Corporation instructs you to arrive at ithe net income realized on this operation to date (Do not round intermedlote calculations. Round finai onswer to 0 decimol places, es. 5.845. Metlock Corporation purchased a tract of unimproved land for $611,000. This land was improved and subdivided into bullding lots at an additiont cost of $137,000. These bulling lots were all of the same size but owing to differences in foestion were offered for sale atdifferent prices as follows: Operating expemes for the year allocated to this project total $76.500. Lot unsold at the vear end were as follows: Group 19 lots Group2 3 kots Group3 Alots At the end of the fiscal year Metlock Corporation imstructs you to arrive at the net income realized on thic operation to date. iDo not round internediate calculations. Round final answer to O decimal ploces, es. 5.845