In 2010, Lake Would Recognize Realized Gross Profit Of

In 2010, Lake would recognize realized gross profit of:

A) $ 0.
B) $450,000.
C) $310,000.
D) $700,000.2008 sales: Gross profit % = ($900,000 $450,000) /$900,000 = 50%
50% $300,000 received in 2010 = $150,000
2009 sales:
Gross profit % = ($1,500,000 $900,000) /$1,500,000 = 40%
40% $400,000 received in 2010 = $160,000
Total: $150,000 + $160,000 = $310,000