Pandra Corporation appropriately uses the installment-sales method of accounting to recognize income in its financial statements. The following information is available for 2020 and 2021.

2020 2021 Installment sales $800,000 $1,000,000 Cost of installment sales 480,000 650,000 Cash collections on sales of 2020 300,000 500,000 Cash collections on sales of 2021 -0- 400,000 Compute the amount of realized gross profit recognized in each year. 2020 2021