On May 31, 2020, Ivanhoe Company consigned 120 freezers, costing $700 each, to Sarasota Company. The cost of shipping the freezers amounted to $900 and was paid by Ivanhoe Company. On December 30, 2020, a report was received from the consignee, indicating that 60 freezers had been sold for $610 each. Remittance was made by the consignee for the amount due after deducting a commission of 8%, advertising of $340, and total installation costs of $270 on the freezers sold.

a)Calculate the profit for the consignor for the units sold.

Profit on consignment sales

$enter the Profit on consignment sales in dollars

b)Calculate the amount of cash that will be remitted by the consignee.

Remittance from consignee