Swifty Realty Corporation purchased a tract of unimproved land
for $54,000. This land was improved and subdivided into building
lots at an additional cost of $29,000. These building lots were all
of the same size but owing to differences in location were offered
for sale at different prices as follows.

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Group

No. of Lots

Price per Lot

1 9 $3,300
2 17 4,400
3 19 2,640

Operating expenses for the year allocated to this project total
$18,000. Lots unsold at the year-end were as follows.

Group 1 5 lots
Group 2 7 lots
Group 3 2 lots

At the end of the fiscal year Swifty Realty Corporation instructs
you to arrive at the net income realized on this operation to
date

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