table data not spanning 2 columns

Question

I am having trouble with a table that is within a div. There are 3 to a row. If I go <td colspan="2'> that should take any text that would normally wrap around the cell and allow it to jump into the cell on its right side. Why isn't it doing this? Instead what is does is because I forced it with nowrap="nowrap", it just makes the cell wider instead of just going into the next cell. Why isn't' this working? Do I need to hard code each row with a width="50%"?

 <div style="float: left; margin-left: 10px">
        <table width="540px" border="1">
            <caption style="text-align: left"><b><font color="blue">L4 Qualifying the Borrower - Minimum Required Funds or Cash Back</font></b></caption>
            <tr>
                <td width="200" colspan="2" nowrap="nowrap">
                    <asp:Label ID="Label14" runat="server" Text="A. Sales Contract Price" Font-Size="Small"></asp:Label>
                    dsfg dfg fds df sdfg dsf sdfg gfds</td>
                <td class="auto-style1"></td>
                <td class="auto-style1">$&nbsp;<asp:TextBox ID="TextBox6" runat="server" Width="100"></asp:TextBox>
                </td>
            </tr>
            <tr>
                <td colspan="2">
                    <asp:Label ID="Label15" runat="server" Text="B. Improvements, Renovations and Repairs" Font-Size="Small"></asp:Label>
                </td>
                <td class="auto-style1"></td>
                <td class="auto-style1">$&nbsp;<asp:TextBox ID="TextBox8" runat="server" Width="100"></asp:TextBox>
                </td>
            </tr>
            <tr>
                <td colspan="2" nowrap="nowrap">
                    <asp:Label ID="Label16" runat="server" Text="C. Land (if acquired separately)" Font-Size="Small"></asp:Label>
                    &nbsp;&nbsp;&nbsp;&nbsp;
                </td>
                <td class="auto-style1">
                    <asp:DropDownList ID="DropDownList2" runat="server">
                        <asp:ListItem Value="AppraisedValue">Appraised Value</asp:ListItem>
                        <asp:ListItem Value="OriginalCost">Original Cost</asp:ListItem>
                    </asp:DropDownList></td>
                <td class="auto-style1">$&nbsp;<asp:TextBox ID="TextBox9" runat="server" Width="100"></asp:TextBox>
                </td>
            </tr>
            <tr>
                <td colspan="2" nowrap="nowrap">
                    <asp:Label ID="Label17" runat="server" Text="D. Refinance: Mortgage Loans to be paid off" Font-Size="Small"></asp:Label>
                </td>
                <td class="auto-style1"></td>
                <td class="auto-style1">$&nbsp;<asp:TextBox ID="TextBox10" runat="server" Width="100"></asp:TextBox>
                </td>
            </tr>
        </table>
      </div>