In 2008, Lake Would Recognize Realized Gross Profit Of

In 2008, Lake would recognize realized gross profit of:

A) $150,000.
B) $ 0.
C) $300,000.
D) $450,000.Gross profit % = ($900,000 $450,000) /$900,000 = 50% 2008: 50% $300,000 = $150,000