At December 31, 2010, Rigsby Would Report in Its Balance

At December 31, 2010, Rigsby would report in its balance sheet:

A) Realized gross profit of $500,000.
B) Deferred gross profit of $400,000.
C) Realized gross profit of $400,000.
D) Cost of installment sales $1,600,000.Balance sheet: Deferred gross profit: $800,000 400,000 = $400,000
Realized gross profit of $400,000 would be reported in the income statement.