Required information [The following information applies to the questions displayed below.] California Orchards reports the following sales data for the year ended December 31. Grade of Walnuts Number 1 Number 2 Number 3 Total Sales $ 489,600 326,400 204,000 $ 1,020,000 The company incurred the following joint costs for the year. Tree pruning and care Pickup, sorting, and grading $ 374,000 299,200 2. Compute gross profit for each of the three grades of walnuts. Assume, cost of goods sold consists only of the joint costs. Grade Number 1 Number 2 Number 3 Total Gross Profit