PSN asting, 10 Question 1 Cheyenne Realty Corporation purchased a tract of unimproved land for $54,000. This land was improved and subdivided into building lots at an additional cost of $29,000. These building lots were all of the same size but owing to differences in location were offered for sale at different prices as follows. No. of Lots Price per Lot $3,300 4,400 2,640 Group 17 19 Operating expenses for the year allocated to this project total $18,000. Lots unsold at the year-end ware Group 1 Group 2 Group 3 5 lots 7 lots 2 lots operation to date. (Round ratios for computational purposes to 4 decimal places, e-g- At the end of the fiscal year Cheyenne Realty Corporation instructs you to arrive at the 78723490 and final answer to 0 decimal places, eg,5,845) Net income SAVE FOR LATER SUBMIT ANSWER Question Attempts: 0 of 6 used