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Blossom, Inc. began work in 2018 on a contract for $19180000. Other data are as...

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Accounting

Blossom, Inc. began work in 2018 on a contract for $19180000. Other data are as follows:

2018 2019
Costs incurred to date $8220000 $13350000
Estimated costs to complete 5480000 0
Billings to date 6740000 19700000
Collections to date 4740000 17350000

If Blossom uses the percentage-of-completion method, the gross profit to be recognized in 2018 is

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