Analysis of Installment Sales – The following partial information is available for the Cupp Company:

Installment method sales

$120,000

3

Installment method cost of goods sold

1

$63,000

Gross profit percentage

2

30%

Cash receipts on installment method sales

2007 sales

25,000

4

2008 sales

5

Realized gross profit on installment method sales

2007 sales

5,000

7,000

2008 sales

9,000

Required

Compute the unknown amounts. (Note: It is not necessary to compute the amounts in the numerical sequence.)

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