Swift Corp., a capital goods manufacturing business that started on January 4, 2014, and operates on a calendar-year basis, uses the installment-sales method of profit recognition in accounting for all its sales. The following data were taken from the 2014 and 2015 records.

2014 2015

Installment sales $517,000 $605,000

Gross profit as a percent of costs 22 % 27 %

Cash collections on sales of 2014 $132,000 $172,000

Cash collections on sales of 2015 0 $249,000

The amounts given for cash collections exclude amounts collected for interest charges.

Compute the amount of realized gross profit to be recognized on the 2015 income statement, prepared using the installment-sales method.

Compute the amount of realized gross profit to be recognized on the income statement, prepared using the cost-recovery method.