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Sicora Incorporated reported installment sales totaling $ 6 7 0 , 0 0 0 in its income statement for Year 1 , its first year

Sicora Incorporated reported installment sales totaling $670,000 in its income statement for Year 1, its first year of operations. Sicora is not required to report installment sales income on its tax return until the cash is collected. Sicora will make the collections on these installment sales as follows:
Year 1 $ 70,000
Year 2130,000
Year 3140,000
Year 4160,000
Year 5170,000
Total $ 670,000

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