Exercise 9-9 Your answer is incorrect. Try again. Oriole 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 $30,000. These building lots were all of the same size but owing to differences in location were offered for sale at different prices as follows. No. of Lots Price per Lot Group $3,900 1 8 5,200 2 17 3 16 3,120 Operating expenses for the year allocated to this project total $16,000. Lots unsold at the year-end were as follows. 5 lots Group 1 7 lots Group 2 2 lots Group 3 At the end of the fiscal year Oriole Realty Corporation instructs you to arrive at the net income realized on this operation to date. (Round ratios for computational purposes to 4 decimal places, e.g. 78.7234% and final answer to 0 decimal places, e.g. 5,845.) 15349 Net income Open Show Work Click if you would like to Show Work for this