On December 15, 2021, Rigsby Sales Co. sold a tract of land that cost $3,600,000 for $4,500,000. Rigsby appropriately uses the installment sales method of accounting for this transaction. Terms called for a down payment of $500,000 with the balance in two equal annual installments payable on December 15, 2022, and December 15, 2023 ignore interest charges. Rigsby has a December 31 year-end In 2022, Rigsby would recognize realized gross profit ot Multiple Choice 50 $450,000 $300,000 $400,000