Valorie Jarrett LLC sells tangible personal property on an installment basis for four equal annual installments. The sales proceeds are $100,000 and the adjusted basis is $80,000. Valorie will calculate the gross profit percentage by dividing the gain realized by the gain recognized. O True O False Question 6 3 pts Claris Corporation has book income that is excluded from taxable income. This results in a favorable, permanent book-tax difference for Claris. O True False